Business
Rate Filing for downstate New York Gas Businesses
Rate Filing for downstate New York Gas Businesses.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 5996X National Grid PLC 30 April 2019 \n\n \n \n \n \n \n30 April 2019 \nNational Grid plc\n \nRate Filing Submitted for downstate New York Gas Businesses\n \nNational Grid has filed a request with the New York Public Service Commission to update gas distribution rates for its two downstate New York gas distribution businesses (KEDNY and KEDLI). \n \nThe filing proposes a four-year rate plan that will fund programmes necessary to continue a safe and reliable service, modernise the gas network, and deliver a sustainable future for natural gas. It will maintain a focus on customer affordability through maximising efficiencies over the multi-year rate plan.\n \nThe filing requests a Return on Equity of 9.65%. For rate year 2020/21, it includes capital investments of $962 million for KEDNY and $586 million for KEDLI. To fund these investments, and to cover increased operating costs, the proposal seeks an increase of $237 million in revenue for KEDNY, and $49 million for KEDLI for the 2020/21 rate year. New rates are expected to become effective April 2020. \n \nFor additional information on these filings, please follow this link to the fact sheet section of our investor's website.\nNotes\nThe two utilities with 1.8 million customers consist of KeySpan Energy Delivery New York (KEDNY) serving parts of the New York City region and KeySpan Energy Delivery Long Island (KEDLI) serving the Long Island/Rockaway Peninsula region. \n \nInvestors and Analysts\n \n\n\n\nAarti Singhal\n \nJames Flanagan\n \n\n\n+44 (0) 20 7004 3170 (d)\n \n+44 (0) 20 7004 3129 (d)\n\n\n+44 (0) 7989 492 447 (m)\n \n+44 (0) 7970 778 952 (m)\n\n\n\n\n\n\n\nTom Edwards\n \n\n\n+44 (0) 20 7004 3460 (d)\n\n\n+44 (0) 7976 962 791 (m)\n\n\n\n\n\n\n\nWill Jackson\n \n\n\n+44 (0) 20 7004 3166 (d)\n\n\n+44 (0) 7584 206 578 (m)\n\...