Business
Rate Filing for Upstate New York Electric & Gas
Rate Filing for Upstate New York Electric & Gas.
About this update from National Grid Plc
[{"type":"text","content":"\n \n \n RNS Number : 8115U\n National Grid PLC\n 31 July 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 31 July 2020 \n \n \n National Grid plc\n \n \n \n \n \n Rate Filing Submitted for Upstate New York Electric and Gas Businesses\n \n \n \n \n \n National Grid has filed a request with the New York Public Service Commission to update electric and gas distribution rates for Niagara Mohawk (NIMO), its upstate New York distribution business, which serves 2.2 million customers and is almost 30% of the company's US rate base. \n \n \n \n \n \n This represents a one-year filing, with revenue data submitted for two additional years to help facilitate a multi-year settlement. New rates are expected to become effective July 2021.\n \n \n \n \n \n The filing will fund programmes necessary to continue a safe and reliable service, modernise the electric and gas networks, expand electric vehicle charging, and promote economic growth. It includes investment to support affordable decarbonized heating, including the expansion of renewable natural gas to help the State's environmental goals, and maintains a focus on managing customer affordability in response to the economic downturn caused by COVID-19.\n \n \n \n \n \n For further information on this filing, please follow \n \n \n this link\n \n \n to the fact sheet section of our investor website.\n \n \n Notes\n \n \n Niagara Mohawk serves 1.6m electric customers and 0.6m gas customers across its service territory. \n \n \n \n \n \n Investors and Analysts\n \n \n \n \n \n \n \n \n James Flanagan\n \n \n \n \n \n \n \n +44 (0) 7970 778 952 (m)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jon Clay\n \n \n \n \n \n \n \n +44 (0) 7899 928 247 (m)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Peter Kennedy\n \n \n \n \n \n Nick Ashworth\n \n \n \n \n \n \n \n +44 (0) 7966 200 094 (m)\n \n \n \n \n \n +44 (0) 7814 355 590 (m)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Media\n \n \n \n \n \n \n \n \n Surinder Sian\n \n \n \n \n +44 (0) 7812 485 153 (m)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CAUTIONARY STATEMENT\n \n \n This announcement contains certain statements t...