Business & Tech
National Grid To Reduce Distribution Charge By $25 Million
The company is passing on savings it anticipates from the Trump tax cut, a spokesman said. But the bills are still going to increase.
PROVIDENCE, RI -- National Grid said today it will reduce its recent request for a price increase. The electric and gas distribution rate proposal will be cut by $25 million in anticipation of money the company will save due to the Trump tax cuts. However, customers bills will still be increasing.
The company earlier filed a rate increase request for more than $71 million. But the adjusted figures, which were presented to the state Public Utilities Commission on Thursday, call for a $27 million hike for electric and $18 million for gas. The total is now $45 million.
The company said the reduction, which still must be approved by the PUC, is about 35 percent of the original request.
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