National Grid NY Electric Rates increase 3.9 percent

New York Regulator Slashes National Grid’s Rate Request by 90 Percent, Allows $2.5 billion in Grid Investments

The New York Public Service Commission on March 15 approved a three-year plan resetting National Grid’s electric and gas rates from April 1 through March 31, 2021. The commission limited revenue increases in the first year to $43 million for electric customers and $13 million for natural gas customers, lower than the company’s initial request of $326 million and $81 million, respectively. The average electric customer will see monthly bill increases of up to 3.9 percent over the period while a residential natural gas customer will see an increase of up to 4.4 percent. Low-income electric customers will benefit from bill reductions of up to 55 percent. The company said the plan will allow $2.5 billion in investment over three years to modernize electricity and natural gas networks.

 

 

Monty Bannerman

ArcStar Energy

+1-646-402-5076

www.arcstarenergy.com