National Grid Submits Requests to Massachusetts, New York Regulators
November 16 2018 - 2:59AM
Dow Jones News
By Oliver Griffin
National Grid PLC (NG.LN) said it has submitted a request to
regulators in Massachusetts seeking an increase in annual revenue
and another request to New York authorities asking for further
capital investment.
The power company said it filed a request to the Massachusetts
Department of Public Utilities to update electricity-distribution
rates for its Massachusetts Electric business.
National Grid is seeking an increase of around $70 million a
year in revenue to cover increased operating costs and a return on
equity of 10.5%.
The increase will support annual capital expenditure of $300
million and will begin in October 2019 if approved, the company
said.
In New York, National Grid has filed a request for capital
investment of $650 million the New York Public Service Commission
so it can install 1.7 million electric advanced-metering
infrastructure meters and 640,000 gas modules across its Niagara
Mohawk business between 2021 and 2024.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
November 16, 2018 02:44 ET (07:44 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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