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EXECUTIVE SUMMARY
Updated: 10/01/05    Source: EC Power
On August 7, 1996, the Utility Restructuring Act ("URA") was signed into law. The URA provided that, during the first 5 years of Rhode Island's transition to a competitive power supply market, the Public Utilities Commission ("Commission") should monitor the transition and produce reports addressing the following topics:

 Developments in the competitive power supply market in Rhode Island;

 Estimated savings realized by customers as a result of the introduction of retail competition in the power supply market;

 Progress towards implementation of a regional transmission agreement for New England and other reforms implemented by the regional power pool;

 The status of electric industry restructuring activities in other New England states; and

 Recommendations for statutory changes.

The Commission's First Report on Electric Restructuring (the First Report) was provided on January 1, 1998. This volume contains the Second Report. As noted in the introduction to the First Report, in the URA, the General Assembly declared that lower retail electricity rates would promote the state's economy and the health and general welfare of the citizenry, and that greater competition in the electric industry would result in a decrease in electricity rates over time.

Retail competition in Rhode Island was phased in, beginning on July 1, 1997, as required by the URA. Competition has brought customers options: the Standard Offer Service, competitive market supply, and Last Resort Service. All utility customers as of January 1, 1998, and any new customers who entered the state after that date, could take Standard Offer Service.

This provided an option for those customers who, for now, do not wish to enter the competitive market. Last Resort Service provides an option for those who do try competitive supply and then decide to leave the competitive market. During 1998 almost all Rhode Island customers remained out of the competitive market.

Beginning in late 1998 and continuing into 1999, usage supplied by the competitive market increased sharply. Purchases from competitive suppliers peaked in September 1999. By the second quarter of 2000, competitive supply had dropped to about one-tenth of the peak in 1999.

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