National Grid reaches settlement over rate hikes
PROVIDENCE, R.I. (AP) — National Grid has settled for an $82.9 million hike in gas and electric rates for its Rhode Island customers.
The Providence Journal reports the three-year plan filed with the Rhode Island Public Utilities Commission Wednesday gives the utility about 60 percent of what it originally requested.
Residents will see their electric bill go up by 4.1 percent in the first year, and then see smaller increases the following years. Gas bills will decrease by 0.2 percent the first year, but then rise 1.5 percent in the second year and 0.9 percent in the third.
Gov. Gina Raimondo says she is pleased with the agreement since it includes an incentive to lower greenhouse gas emissions.
The settlement requires approval from the utilities commission before going into effect.
Information from: The Providence Journal, http://www.providencejournal.com