National Grid Files Three-Year Rate Plan Proposal in New York
January 22 2018 - 2:17AM
Dow Jones News
By Maryam Cockar
National Grid PLC (NG.LN) said Monday that it has filed a
proposal with New York's public utilities commission regarding a
three-year rate-plan program for distributing electricity and gas
in the U.S. state.
National Grid said that the proposal--which covers fiscal 2019
to fiscal 2021--includes revenue increases over the three years, a
9% return on equity for both gas and electric utilities, and a $2.5
billion capital-investment program.
The proposal also incorporates estimated customer savings of $76
million related to the expected impact of tax reform in the U.S.
and includes the use of deferred credits, which National Grid said
will mitigate the impact on customers' bills.
National Grid expects the New York Public Service Commission to
approve the proposal in the spring, with new rates effective in
April, it said.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
January 22, 2018 03:02 ET (08:02 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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