Return to Blog

Market Monitor – Rhode Island RPS Cost Increases Avoidable If You Act Before July 1

June 22, 2022 – The Rhode Island legislature has passed a revision to the state’s Renewable Portfolio Standards (RPS), which significantly increase the required percentage of renewables over the next decade.

The revised rules, which are expected to be signed into law by Governor McKee, accelerate the growth rate in RPS requirements from the existing 1.5% increase per year to an average of over 7% per year over the next decade.  Those changes could equal an additional $0.003 to $0.005/kWh in electricity supply costs over the next few years alone.

How to Avoid the Increase:

You can avoid the increase by acting quickly and securing a new or renewal supply agreement.

Embedded within the bill’s language is an exemption for competitive electricity supply agreements put in place before July 1, 2022.  The exemption specifies that any account under 3rd party supply as of that date will continue to be required to meet only the existing 1.5% per year increase in obligation throughout the term of the supply agreement.


This document is the property of, and is proprietary to, TFS Energy Solutions, LLC and/or any of its members, affiliates, and subsidiaries (collectively “TFS”) and is identified as “Confidential.” Those parties to whom it is distributed shall exercise the same degree of custody and care afforded their own such information. TFS makes no claims concerning the validity of the information provided herein and will not be held liable for any use of this information. The information provided herein may be displayed and printed for your internal use only and may not be reproduced, retransmitted, distributed, disseminated, sold, published, broadcast or circulated to anyone without the express written consent of TFS. Copyright © 2024 TFS Energy Solutions, LLC d/b/a Tradition Energy. Although the information contained herein is from sources believed to be reliable, TFS Energy Solutions, LLC and/or any of its members, affiliates, and subsidiaries (collectively “TFS”) makes no warranty or representation that such information is correct and is not responsible for errors, omissions or misstatements of any kind. All information is provided “AS IS” and on an “AS AVAILABLE” basis, and TFS disclaims all express and implied warranties related to such information and does not guarantee the accuracy, timeliness, completeness, performance, or fitness for a particular purpose of any of the information. The information contained herein, including any pricing, is for informational purposes only, can be changed at any time, should be independently evaluated, and is not a binding offer to provide electricity, natural gas and/or any related services. The parties agree that TFS’s sole function with respect to any transaction relating to this document is the introduction of the parties and that each party is responsible for evaluating the merits of the transaction and the creditworthiness of the other. TFS assumes no responsibility for the performance of any transaction or the financial condition of any party. TFS accepts no liability for any direct, indirect, or other consequential loss arising out of any use of the information contained herein or any inaccuracy, error, or omission in any of its content.