Business
Rate Filing Submitted for Rhode Island
Rate Filing Submitted for Rhode Island.
About this update from National Grid Plc
[{"type":"text","content":"\n \nRNS Number : 6479X National Grid PLC 28 November 2017 \n\n \n \n \n \n \n \n28 November 2017\nNational Grid plc\n \nRate Filing Submitted for Rhode Island Electric & Gas\n \nNational Grid plc announces that, in line with its programme for rate filings, it has filed a request with the Rhode Island Public Utilities Commission (PUC) to update distribution rates for its Rhode Island electricity and gas utilities which serve approximately 500,000 electric and 270,000 gas customers.\n \nThis filing represents the first full rate review for these utilities since 2012. It will allow National Grid to modernise the electric and gas networks to further enhance reliability and resiliency. \n \nThe filing seeks an annual revenue increase of $41 million in the electric business and $30 million in the gas business to cover increased operating costs relating to inflation and other items. Annual capital investment of over $250 million will continue to be recovered under the state's Infrastructure, Safety and Reliability plan. The proposal also supports Rhode Island's Power Sector Transformation initiative. \n \nNew rates are expected to be effective September 2018, subject to the regulatory review process.\n \nFor additional information on these filings, please follow the link to the fact sheet section of the National Grid Investor Relations website: - Link here \nNotes:\nNational Grid's Rhode Island electricity and gas businesses are called The Narragansett Electric Company.\n \nInvestors and Analysts\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTom Edwards\n\n\n+44 (0)20 7004 3460\n\n\n+44 (0)7976 962791 (m)\n\n\n\n\n \n \n \n \nCAUTIONARY STATEMENT\n \nThis announcement contains certain statements that are neither reported financial results nor other historical information. These statements are forward-looking statements within the meaning of Section ...