9th Nov 2015 07:12
LONDON (Alliance News) - National Grid PLC Monday said it has filed a request with the Massachusetts Department of Public Utilities to update its electricity distribution rates.
The company said it is the first time since 2009 that it has filed such a request, which if approved will affect all electricity companies operating in the state.
In the filing, National Grid has requested a USD143.0 million per year rise in electricity delivery revenue to cover increased operating costs and investments that have been made into the electricity network.
The company said it has spent USD1.30 billion on the state electricity network since 2008, which exceeds the current annual capital expenditure cap of USD170.0 million.
The company has now requested that annual capital expenditure cap be increased to USD285.0 million.
National Grid said the filing could take up to 11 months to review, hopefully concluding by September 2016.
By Joshua Warner; [email protected]; @JoshAlliance
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