The New York State Public Service Commission on Thursday approved a three-year rate plan for National Grid customers in upstate New York that is significantly lower than what the company initially requested. The Commission adopted the agreement, effective Feb. 1, ith Department of Public Service Staff, IBEW Local 97, commercial and industrial customers, the New York Power Authority, and other parties.
“Our three-year investment plan reflects the input of a broad range of stakeholders and is an important step forward in advancing New York’s clean energy future,” said Bryan Grimaldi, National Grid’s vice president of New York Corporate Affairs. “We worked hard to strike a balance between prioritizing customer energy affordability and ensuring resiliency – especially in light of the record number of damaging storms we’ve seen in upstate New York – while deferring other programs and initiatives that would add to our customers’ bills.”
National Grid had sought an increase of approximately $100.4 million in electric delivery revenues (a 4.9 percent increase in base delivery revenues or a 3.2 percent increase in total revenues), and an increase of approximately $41.8 million in natural gas delivery revenues (a 9.8 percent increase in base delivery revenues or a 5.2 percent increase in total revenues).
“The joint proposal we adopted today allows for funding for the company to maintain safe and reliable service, while moderating rate impacts during the term of the rate plan and mitigating the impacts to ratepayers suffering the financial consequences of the pandemic,” said Commission Chair Rory M. Christian. “Further, this agreement is consistent with our nation-leading clean energy initiatives, as well as our social and economic policies.”
Under the terms of the three-year agreement, average residential electricity customers who use 600 kilowatt-hours a month would see monthly bill increases of $1.88 in the first year, $1.88 in year two and $2.23 in year three. Average residential gas customers who use 82 therms a month would see monthly bill increases of $1.51 in the first year, $2.37 in year two and $2.56 in year three.
In upstate New York, National Grid provides electric service to approximately 1.6 million customers and gas service to approximately 600,000 customers.
