National Grid says northern New York customers should see stable prices through 2014
National Grid electric customers in northern New York would see stable energy delivery rates into 2014 as part of a proposal submitted to the New York State Public Service Commission (PSC).
The proposal continues and expands electric delivery cost decreases started earlier this year, largely due to the end of payments to Niagara Mohawk Power Corporation for National Grid’s acquisition of the old upstate utility.“Our goal has been to keep customer bills stable, while also continuing to invest in our energy infrastructure to further improve reliability and expand our support for the economic growth and vitality of the local communities we serve,” said Ken Daly, National Grid president for New York.
NG’s proposal actually asks for an electric delivery rate increase of about $131 million beginning next year. This would be more than offset by approximately $190 million that will be removed from the rates calculation as those past costs are retired, for an overall reduction in electric revenues of about $59 million.
This results in an average decrease of 2.1 percent for the typical residential customer, about $1.74 per month. Customers have already seen a delivery rate reduction that began in January, including an average reduction of about 11 percent for residential customers.
Decreases for small commercial and industrial customers will amount to about 15 to 27 percent, and for large industrial and commercial customers of between 44 and 49 percent since the first of the year.