National Grid (LSE:NG.)
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De Jun 2019 a Jun 2020
By Adriano Marchese
National Grid PLC (NG.LN) said Wednesday that the Massachusetts department of public utilities issued a rate case order that approves a five-year rate plan, effective Oct. 1.
The British utilities company said that, following the rate filing in November 2018, the rate case order includes an allowed return on equity of 9.6% on an equity ratio of 53.5% and a revenue increase of $38 million.
The order also includes a new performance-based rate mechanism that will fund both capital and operational expenditure across the duration of the plan, the company said, adding that this should ensure inflation is factored into the base cost.
Additionally, National Grid said the department is supportive of its energy storage and electric-vehicle charging infrastructure proposals, and that the DPU has recommended the company resubmit the requests as a part of a future filing.
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(END) Dow Jones Newswires
October 02, 2019 03:22 ET (07:22 GMT)
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