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What you need to know for 04/24/2017

National Grid rate hike could actually lower bills

National Grid rate hike could actually lower bills

New power rates, coupled with expiring surcharges, could mean overall lower power bills for National

New power rates, coupled with expiring surcharges, could mean overall lower power bills for National Grid customers, according to a company filing this week.

The filing comes as the company petitions the state Public Service Commission to increase rates. There is still some process to go through before the rates are finalized.

If approved, they would go into effect April 1 and the plan would run for three years, officials said.

“The rate plan has been timed such that new electric delivery rates will replace a portion of an expiring annualized electric surcharge,” National Grid deputy general counsel and vice president Catherine L. Nesser wrote in a letter to the commission dated Wednesday. “The net result is continued rate stability and, for most customers, lower electric delivery bills.”

Gas customers also would see lower gas delivery bills in the first year, with the increase later offset by other means, according to the letter.

The letter is part of a months-long process to change power rates, a process begun earlier this year.

National Grid came to a settlement agreement in October, leading to the filing. The process also includes a period for public comment.

Specific numbers weren’t available on how the changes would actually impact residential customers.

Also in the letter, Nesser wrote that the agreement would “enable the company to continue its capital investment programs to maintain and update its infrastructure in upstate New York.”

It would also allow the company to expand other programs, including those aimed at low-income groups.

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