National Grid Reaches New Rate Deal for Rhode Island Utilities
07 June 2018 - 10:07PM
Dow Jones News
By Adam Clark
National Grid PLC (NG.LN) said Thursday that it reached a
three-year rate agreement with the Rhode Island Division of Public
Utilities and Carriers, allowing for a cumulative revenue increase
of $48 million for its electricity-and-gas operations in the U.S.
state.
The British utility said the settlement provides incremental
revenue increases in each of the three years, allowing for a return
on equity of 9.3%. The new rates will be effective Sept. 1.
National Grid said the agreement will now go before the Rhode
Island Public Utilities Commission for final review and
approval.
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
June 07, 2018 07:52 ET (11:52 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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