National Grid is proposing a one-year price hike for electricity and gas.
The proposal, set to tentatively go into effect in spring 2025, would see the average monthly bill jump $19 for electricity and $18 for gas service.
National Grid says the plan supports smarter, stronger and cleaner energy systems. The company also claims the plan would increase the number of consumer advocates that can assist vulnerable customers, eliminate credit card fees for residential bill payments and adopt new technologies to provide more self-service options for customers.
The one-year proposal includes cost data for three additional years, which could lead to a multi-year settlement that spreads cost increases over four years. National Grid says that could reduce the first-year delivery price impact by more than half.
“While we have made every effort to moderate the proposals and resulting bill impacts in our filings, we are interested in exploring a multi-year rate plan that would allow National Grid to take full advantage of efficiencies and manage bills over multiple years,” said Phil DeCicco, New York general counsel. “We’re committed to doing all that we can to minimize any impact on our customers while delivering on the critical safety, reliability and clean energy priorities our customers expect and deserve."
The company's proposal will undergo a review process by New York's Department of Public Service.
"We look forward to an open and transparent public review process and encourage customers to become involved in how we can build a better energy future for all the communities we serve," said DeCicco.
You can view the filing here.