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National Grid requests rate increase in Massachusetts
StockMarketWire.com
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Power utility National Grid said it had filed a request with regulators in Massachusetts asking for an increase in revenue via higher gas distribution rates.
The filing to the Massachusetts Department of Public Utilities asked for a $138 million increase in revenue.
National Grid said the money would ensure the safety and reliability of the US city's gas network and cover increased operating costs and core investments.
It had also requested a return on equity of 10.5% in the filing.
In addition, National Grid said it proposed a new performance-based rate mechanism that would link annual revenue increases to inflation.
This rate filing was expected to conclude in September 2021, with new rates effective 1 October 2021.
Story provided by StockMarketWire.com
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