The New York State Public Service Commission has cut National Grid’s rate hike request for the next three years by a third.
News 10 NBC reports the commission granted National Grid a an increase of 1.4% for electricity and 1.8% for gas the first year, and by 1.9% for electricity and gas the second and third years. According to the Public Service Commission, National Grid wanted an almost 5% increase in electric delivery and 10% for natural gas.
The agreement, which is effective Feb. 1, was reached with department of public service staff, IBEW local 97, commercial and industrial customers, the New York Power Authority, and other parties.” National Grid said in a statement.
