The New York State Public Service Commission has cut a rate request by National Grid.
The Commission decision slashed the proposed rate increase by more than one-third. National Grid had requested an increase of approximately $100.4 million in electric delivery revenues and an increase of approximately $41.8 million in natural gas delivery revenues.
The decision will keep annual electric and gas increases for National Grid customers below 2% for the next three years.
The Commission adopted a joint proposal that contains provisions to further the objectives of the Climate Act and respond to the economic conditions created by the COVID-19 pandemic.
Total electric bills for typical residential customers using 600 kilowatts per month would increase by between 2.02% and 2.2% in the first year, 1.98% and 2.12% in second year, and 2.24% and 2.4% in the third year, depending on the location of customers within the company’s service territory. Total gas bills for typical residential customers using 82 therms per month would increase by 1.99% in the first year, 3.13% in the second year, and 3.29% in the third year.
In upstate New York, National Grid provides electric service to approximately 1.6 million customers and gas service to approximately 600,000 customers.