N.Y. Okays Higher National Grid Rates


New York utility regulators have approved new electricity and natural gas delivery rates for National Grid.

The Public Service Commission said Thursday the company will be allowed to collect a total of $123 million more in electric revenue and almost $9 million more in gas revenue over three years.

But the PSC says those increases will be offset by the expiration of a $190-million surcharge and the return of deferred customer credits, resulting in a 6.6-percent cut in customers’ electric delivery bills in the first year, followed by increases of 3.3 percent and 2.1 percent. It says a typical residential gas customer would see a drop of 4 percent the first year, and then increases of 3.9 percent and 2.9 percent.