PPL Corporation's subsidiary, Rhode Island Energy (RIE), received approval from the Rhode Island Public Utilities Commission (RIPUC) for new electric and gas distribution rates. The decision, part of a base rate case filed in November 2025, authorizes significant annual revenue increases and establishes key financial parameters for the utility.
Key Details
- Revenue Increase: The RIPUC approved a total annual revenue increase of $137.8 million, consisting of $44.1 million for electric and $93.7 million for gas, effective September 1, 2026.
- Financial Terms: The decision authorizes a 9.275% return on equity (ROE) and a capital structure of 48% debt to 52% equity for RIE.
- Customer Bill Credits: Regulators also approved an agreement for RIE to issue approximately $170 million in bill credits to customers from October 2026 through September 2027, fulfilling a commitment from PPL's 2022 acquisition of RIE.
- Company Outlook: Following the decision, PPL reaffirmed its 2026 earnings per share forecast and long-term earnings growth targets.