National Grid Wants to Raise NY Energy Rates

Many customers who live in upstate New York get their energy from National Grid, a UK- National Grid Raises NY Energy Ratesbased energy company that has a subsidiary in the United States. National Grid has been frustrated because they are reportedly losing money on their investment in upstate New York. In order to remedy this problem they are seeking a rate increase. This means higher energy bills for National Grid customers in this area.

The Public Service Commission has already approved a rate increase of more than $100 million. This will go into effect in 2012. However, National Grid had originally asked for nearly four times that amount. They say that the amount that did get approved isn't enough to cover their costs for providing energy in the area. They intend to file for new rates as soon as possible, which will most likely happen next year.

In practical terms for customers this means that energy bills are going to go up a small amount next year when the approved rate hike goes into effect and then it may go up again later in the year or in the following year if the next rate hike ends up also getting approved. That's certainly not something to look forward to as a customer of National Grid.

The good news is that energy customers in upstate New York have several different options in terms of energy providers. It is possible to select a NY electric company other than National Grid, one that may not be charging rates that are so high or seeking impending rate increases. It's certainly something worth looking into as a National Grid customer.

Source: http://www.bizjournals.com/albany/news/2011/05/19/national-grid-seeks-rate-hike.html


Publish Date: 2011-06-22 13:11:01

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