National Grid is looking for a 15-20% increase in electric and gas rates

ROCHESTER, N.Y. (WROC) — National Grid is asking the New York State Public Service Commission to approve a 15-20% rate hike for residential electric and gas customers.

National Grid has filed a plan with the PSC that looks to reset electric and natural gas delivery prices starting in the spring of 2025 as part of a proposal it said would maintain infrastructure, customer service, economic growth, and prepare networks for a transition to clean energy sources.

With that, the utility said the one-year proposal would result in an increase of $19 — or 15% — for an average customer using 625 kilowatt-hours. Gas bills would increase by $18 — or 20% a month.

“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 New York General Counsel Phil DeCicco.

In other words, the company could reach a deal with the PSC to spread the costs over several years, potentially cutting the first-year hike in half.

The utility said, adjusted for inflation, residential electric bills in 2023 were 20% lower than they were in 2007, and gas bills were 40% lower.

Some highlights of the proposal include investing in the electricity grid and gas networks across the state, increasing customer assistance and energy affordability programs, and adding over 800 jobs over the next four years.

National Grid’s proposal comes after RG&E and NYSEG were approved by the Public Service Commission to increase their rates. RG&E’s electric rates would rise by 16% and their gas rate increase would be just under 11%.

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