State cuts National Grid rate hike by 24%
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The Massachusetts Department of Public Utilities has cut the proposed $133.2 million revenue request proposed late last year for its electric customers by 24 percent to $101 million.
The decision announced on Friday marks the first time that National Grid’s electric distribution rates have changed since 2009, according to a release from the Massachusetts Executive Office of Energy and Environmental Affairs.
“The order issued by the DPU strikes the right balance between ensuring safe and reliable electric service and minimizing impacts on customers,” DPU Chair Angela M. O’Connor said in a statement. “Our decision today provides the Company with the revenues needed to invest in system integrity, to be ready to respond to storms in a timely and cost-effective manner, and to improve overall customer service.”
Along with the rates, the DPU approved a modified low-income discount to assist customers in need of offsetting the high cost of energy. The new rates went into effect on Oct. 1.
National Grid provides electric service to approximately 1.3 million customers in 172 cities and towns in the Commonwealth and across a service territory that spans nearly 4,625 square miles.
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