The standard product is the program’s electricity supply, which has been negotiated through a competitive process, in which, under ans aggregation program, eligible residents and business would be automatically enrolled, unless you select an optional product in the program or elect to opt-out of the program.
The program’s proposed standard product has twin goals of 1) costing the same or less than National Grid’s Standard Offer Service supply and 2) including additional renewable energy, above the State of RI’s minimum requirements.
For background, the State of RI requires every electricity supply to have a minimum amount of renewable energy. In 2021, that amount will be about 18%. By 2035, that requirement will increase to about 38%. Based on the way the Town plan is currently written, we expect the standard product will have an extra 10% renewable energy. In 2021, this would mean that the standard product would have a total of 28% renewable energy.