Larry Rulison is reporting in the Times Union National Grid is reducing its rate hike request in New York state by $76 million, or 18 percent. On Mon., Jul. 10, the utility said it would reduce its projected increase of annual gas and electric rates because of "updated forecasts." The change means the average residential customer, with both gas and electric service, would see an increase of nearly $18 a month instead of $22 a month. Electric-only customers would see their monthly bills increase by nearly $9 a month, instead of $11 a month. National Grid said Monday the biggest adjustment made was in calculating pension and post-retirement benefits for company workers. Studies found them to be lower than when originally estimated, and then submitted to the Public Service Commission in April. Read the full story in the Times Union.