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On November 16, 2023, National Grid submitted a proposal to the Department of Public Utilities (DPU) to update the Company’s electric rates. The proposal requests a net increase in annual distribution revenue of approximately $131.6 million effective October 1, 2024. The proposal also seeks approval to make additional annual adjustments each year effective October 1 over the term of the five-year rate plan to increase rates to recover needed incremental investments to support core reliability as well as advance investments to support the clean energy transition. If approved by the DPU, a typical residential customer receiving basic service using 600 kWh per month would experience an increase of $7.86, or 3.7%, per month starting October 1, 2024, with further increases averaging 1.8% per year for the remaining four years of the rate plan term (an average increase of 2.2% per year over the five years). Under the terms of the Company’s proposal if additional investments as presented in the Company’s Electric Sector Modernization Plan are separately approved by the DPU, the average annual increase over the five year rate plan will increase to 3.0%. The DPU will review their request, which includes conducting six public hearings in National Grid’s service area and two virtual hearings, and then make a decision by September 30, 2024 for new rates to become effective October 1, 2024. If you would like to submit written comments to the DPU, please send them to dpu.efiling [at] mass.gov and marc.tassone [at] mass.gov with the subject line: D.P.U. 23-150. |
