Business
3-year rate plan proposal filed for KEDNY-KEDLI
3-year rate plan proposal filed for KEDNY-KEDLI.
About this update from National Grid Plc
[{"type":"text","content":"\n\n \n \n \n \n \n10 April 2024 \nNational Grid plc\n \nThree-year rate plan proposal filed for National Grid's\ndownstate New York Gas Businesses\n \nNational Grid has filed a Joint Proposal with the New York Public Service Commission for a multi-year rate settlement for its two downstate New York gas distribution businesses (KEDNY and KEDLI).\n \nThe proposed settlement is for a three-year rate plan with new rates effective April 2024. A final decision from the New York Public Service Commission is expected in the next few months.\n \nThe proposed settlement will fund programmes necessary to modernise the gas network and continue a safe and reliable service for our customers. It will maintain a focus on customer affordability through delivering efficiencies and bill assistance programmes over the duration of the proposed rate plan. The plan includes funding for capital investment of $924 million for KEDNY and $646 million for KEDLI in the first rate year, and a Return on Equity of 9.35%. It also includes programmes to reduce methane emissions, promote non-gas alternatives, and expand energy efficiency in support of the State's environmental goals. \n \nFor additional information on these filings, please follow this link to the factsheet section of our investor's website.\nNotes\nThe two utilities with approximately 1.9 million gas customers consist of KeySpan Energy Delivery New York (KEDNY) serving parts of New York City and KeySpan Energy Delivery Long Island (KEDLI) serving Long Island and the Rockaway Peninsula. \n \nInvestors and Analysts\n \n\n\n\n\nNick Ashworth\n \nAngela Broad\n \n\n\n+44 (0) 7814 355 590\n \n+44 (0) 7825 351 918\n\n\n\n\nJames Flanagan\n \n\n\n+44 (0) 7970 778 952\n\n\n\n\n\n\n\n\n\n\n\n\nMedia\n \n\n\n\n\nMolly Neal\n \nKaren Young\n \n\n\n+44 (0) 7583 102 727\n \n+1 718 5...