Watching Electric Rates
ALBANY, NY (WAMC) - With the economy limping toward recovery, consumers are watching every penny, while government agencies are watching National Grid. Capital District Bureau Chief Dave Lucas reports the buzzword is "rate-hike" -
(2010-12-06)
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In November, National Grid officials said it's likely the New York state Public Service Commission will grant the utility a one-year rate increase. National Grid says the proposed increase is lower than the amount it needs to maintain the upstate system's reliability, and deliver a return on investment for shareholders.
Meanwhile, The PSC has scheduled what it calls an "investigative audit" to determine if National Grid's New York customers have been billed for any inappropriate expenses. A PSC spokesperson says the next step in the investigative process entailed the issuance of a "Request For Proposal."
The PSC is hopeful that an RFP will be awarded by February with an initial report forthcoming in September and a final report to follow in November, a full 10 months after the PSC is expected to set new Upstate electric rates for National Grid. In a related development, the Albany County Legislature has sent a letter to the PSC, demanding the agency reject any National Grid rate increase. National Grid has hired its own consultant to audit the allocation of costs and company officials say its findings will be shared with the PSC.
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