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National Grid submit rate filing for upstate New York electric and gas businesses

National Grid plc (LON:NG) has filed a request with the New York Public Service Commission to update electric and gas distribution rates for Niagara Mohawk, its upstate New York distribution business, which serves 2.2 million customers and is almost 30% of the company’s US rate base.

This represents a one-year filing, with revenue data submitted for two additional years to help facilitate a multi-year settlement. New rates are expected to become effective July 2021.

The filing will fund programmes necessary to continue a safe and reliable service, modernise the electric and gas networks, expand electric vehicle charging, and promote economic growth. It includes investment to support affordable decarbonized heating, including the expansion of renewable natural gas to help the State’s environmental goals, and maintains a focus on managing customer affordability in response to the economic downturn caused by COVID-19.

Notes

Niagara Mohawk serves 1.6m electric customers and 0.6m gas customers across its service territory.   

National Grid are one of the largest investor-owned energy companies in the US — serving more than 20 million customers throughout New York, Massachusetts, and Rhode Island.

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