3-year rate plan proposal filed for KEDNY-KEDLI
10 April 2024
National Grid plc
Three-year rate plan proposal filed for National Grid's
downstate New York Gas Businesses
National Grid has filed a Joint Proposal with the New York Public Service Commission for a multi-year rate settlement for its two downstate New York gas distribution businesses (KEDNY and KEDLI).
The proposed settlement is for a three-year rate plan with new rates effective April 2024. A final decision from the New York Public Service Commission is expected in the next few months.
The proposed settlement will fund programmes necessary to modernise the gas network and continue a safe and reliable service for our customers. It will maintain a focus on customer affordability through delivering efficiencies and bill assistance programmes over the duration of the proposed rate plan. The plan includes funding for capital investment of $924 million for KEDNY and $646 million for KEDLI in the first rate year, and a Return on Equity of 9.35%. It also includes programmes to reduce methane emissions, promote non-gas alternatives, and expand energy efficiency in support of the State's environmental goals.
For additional information on these filings, please follow this link to the factsheet section of our investor's website.
Notes
The two utilities with approximately 1.9 million gas customers consist of KeySpan Energy Delivery New York (KEDNY) serving parts of New York City and KeySpan Energy Delivery Long Island (KEDLI) serving Long Island and the Rockaway Peninsula.
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