National Grid Agrees 3-Year Rate Plan With 2 US Businesses
September 08 2016 - 2:50AM
Dow Jones News
By Ian Walker
LONDON--National Grid PLC (NG.LN) said Thursday it has now
agreed a three-year rate plan settlement for the KeySpan Energy
Delivery New York and KeySpan Energy Delivery Long Island gas
distribution utilities.
The electricity and gas utility company said the new proposal
includes revenue increases over each of the three years, an allowed
9% return on equity for both utilities, and a $3 billion capital
program.
Customer bill increases, however, will be more evenly phased
across the three years, with a smaller increase in the first year
and higher increases in the subsequent two years, National Grid
said.
"This settlement will allow us to continue to meet our customer
needs and support the local communities we serve, while managing
the customer bill impact over three years," National Grid said.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
September 08, 2016 02:35 ET (06:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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