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National Grid Customers To See Rate Decrease, Lower Bills

Tim Boyle, Getty Images

Customers of National Grid will soon see lower bills both gas and electric, thanks to a recent three-year rate plan.

The plan was adopted by the New York State Public Service Commission and will take effect April 1st.

For National Grid customers, the new rates will decrease electric and gas bills by 6.6 and 4 percent, respectively, in the first year.

In the second and third years, rates will increase by smaller percentages, but will still be lower in 2016 than they are today.

By changing the rate plan, National Grid hopes to see an average of 9-point-3 percent return on equity.

The decrease is made possible by the expiration of a 190-milion dollar surcharge and by returning deferred customer credits.

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