National Grid looking to bump up rates in Rhode Island
National Grid is looking to bump up its gas and electricity distribution rates in Rhode Island.
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The utility said on Tuesday that it has filed a request with the Rhode Island Public Utilities Commission to update distribution rates for its electricity and gas utilities there, which serve around 500,000 electric and 270,000 gas customers.
This filing represents the first full rate review for these utilities since 2012 and the company said the increase would enable it to modernise the electric and gas networks, making them more reliable and resilient.
National Grid is seeking an annual revenue increase of $41m in the electric business and $30m in the gas business to cover increased operating costs relating to inflation and other items. Annual capital investment of over $250m will continue to be recovered under the state's Infrastructure, Safety and Reliability plan.
New rates are expected to be effective September 2018, subject to the regulatory review process.
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