NY regulators set National Grid rate hearings - NEWS10 ABC: Albany, New York News, Weather, Sports

NY regulators set National Grid rate hearings

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ALBANY, N.Y. (AP) - New York utility regulators are holding hearings on a proposal that would change National Grid's electricity and natural gas delivery rates.

The Public Service Commission and the company have proposed allowing a total of $120 million more electric revenue and almost $9 million more gas revenue to be collected over three years.

But the PSC says those increases will be offset by the expiration of a $190 million surcharge and the proposed use of customer credits, resulting in a 6.2% cut in electric revenue in the first year, followed by 1.9% increases in the final two years. Gas revenue would drop by 4.3% the first year and increase by 2.9% in each of the next two years.

The hearings start Tuesday in Schenectady and continue across upstate until Jan. 24.

Online:

http://www.dps.ny.gov

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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