Innovating in Upstate New York
In a move that would hold upstate New York delivery prices at current levels and provide for system, safety and reliability improvements, National Grid has submitted an innovative proposal to state regulators. Through the proposal, National Grid would invest approximately $1.4 billion in its upstate electricity and natural gas networks over two years, bringing total investment from 2013 to 2018 to more than $3 billion.
The proposal would freeze upstate New York electricity and natural gas delivery prices at current levels for up to two additional years through March 2018, and allow the Company to increase investments to enhance its gas and electricity systems, promote natural gas growth, enhance storm resilience, improve customer service and ensure the system is “REV ready” to support the state’s Reforming the Energy Vision initiatives. Additionally, the Company’s successful economic development and energy efficiency programs would continue for two more years.
The proposal is currently under review by the NY Public Service Commission and, if approved, would take effect in April 2016.
Read the complete details here.