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National Grid requests $142M rate increases

Aug 04, 2020 5:45 am
Rick Moriarty is reporting for the Syracuse Media Group National Grid asked state regulators July 31, for permission to raise electricity and gas delivery prices for its its upstate New York customers by $142 million beginning in July 2021. If given the green light, National Grid would impose an average bill increase of 4 percent, or $3.43, per month, for its residential electricity customers. Residential gas customers would see their bills rise an average of 6 percent, or $4.53 a month. The filing starts an 11-month review process by the New York Public Service Commission. National Grid’s current three-year rate agreement expires March 31, 2021. The company said it originally planned to file the request for new rates in April, but delayed the filing until last week due to the coronavirus pandemic and the resulting economic disruption. “We made the decision to delay this proposal so that we could use the time over the last few months to refine and reduce the amount of our request,” John Bruckner, the company’s president, said in a statement. The increases would generate an additional $100.4 million a year in revenue to deliver electricity and an additional $41.8 million annually to deliver gas to its customers. Read the full story at oleantimesherald [dot] com.