Whats News Breaking: Friday, August 13, 2021
GAS RATE HIKE SLASHED: The NY State Public Service Commission, in its three-year rate plan for National Grid’s downstate gas companies, has dramatically slashed the rate hike that the utility giant requested. The rates are frozen in first year, with increases limited to 2 percent in the second and third years. The commission adopted and modified a joint proposal signed by the companies, department staff, environmental groups and business groups that, among other things, contains provisions that promote energy efficiency, demand response, geothermal deployment, and electrification options to meet customers’ energy needs while working to lower natural gas demand and further minimize the need for additional gas infrastructure.
Downstate companies under the National Grid umbrella include the Brooklyn Union Gas Company (KEDNY) and KeySpan Gas East Corp. (KEDLI).
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