National Grid Files Rate-Settlement Proposal for New York Gas Distribution

By Jaime Llinares Taboada

National Grid PLC said Monday that it has filed a joint proposal for a three-year rate settlement for its New York gas distribution businesses.

The British energy infrastructure company said the settlement has been filed with the Department of Public Service Staff and other settling parties, proposing new rates back-dated to April 2020. A final decision from the New York Public Service Commission is expected later this summer.

"The settlement maintains focus on managing customer affordability in response to the economic downturn caused by Covid-19, while funding programmes necessary to maintain safe and reliable service, modernise the gas networks, and promote economic growth in the State," National Grid said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

May 17, 2021 02:27 ET (06:27 GMT)

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