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NIMO three-year rate plan proposed
NIMO three-year rate plan proposed.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 4584C National Grid PLC 22 January 2018 \n\n \n \n \n \n \n22 January 2018 \nNational Grid plc\n \nThree-year rate plan proposed for \nNiagara Mohawk Electric & Gas\n \nFollowing the rate case filing in April 2017, National Grid and the New York Public Service Commission (NYPSC) have filed a Joint Proposal for a three-year rate plan settlement for the Niagara Mohawk Power Corporation electric and gas distribution utility. The final decision from the Commission is expected in the spring of 2018 with new rates effective as of April 2018.\n \nThe Joint Proposal, which covers fiscal years 2018/19 to 2020/21, includes revenue increases over each of the three years, an allowed 9% Return on Equity for both utilities, a significant capital programme of $2.5 billion in total and incorporates estimated customer savings of $76 million related to the prospective impact of US tax reform.\n \nThe joint proposal includes the use of deferred credits to mitigate the impact on the customer bill. Revenues, before the impact of the deferred credits, would increase by $206 million in 2018/19 which compares to National Grid's initial request of $317 million. For 2019/20 and 2020/21 incremental year-on-year revenue increases would be $36 million and $60 million, respectively. The company believes the rate settlement provides the opportunity to earn close to the allowed return from year one. \n \nThe IF...