PSC Dramatically Lowers National Grid’s Rate Request
ALBANY — The New York State Public Service Commission today adopted a joint proposal by Department staff, National Grid, and 17 interested parties representing customer, municipal, labor, and environmental interests. The decision establishes three-year electric and gas rate plans that limit the overall revenue increases in the first year to only $43 million or 1.7 percent for electric customers, and only $13 million or 2.4 percent for natural gas customers. The Commission’s decision represents a far better outcome for customers than the company’s initial request for a $326 million revenue increase in electric rates or 13 percent, and an $81 million increase or 14 percent in natural gas rates.
Under the new rate plan, a typical residential customer using 600 kWh of electricity per month would see a total monthly bill increase of $2.22 or 2.9 percent in the first year starting in April 2018, $3.03 or 3.8 percent in the second year starting in April 2019, and $3.25 or 3.9 percent in the third year starting in April 2020. A typical residential customer using 77 therms of gas per month would see a total monthly bill increase of $1.20 or 1.7 percent in the first year, $3.10 or 4.5 percent in the second year, and $3.18 or 4.4 percent in the third year. Eligible low-income electric customers will see a bill reduction of up to 55 percent.