ALBANY, N.Y. – The New York Public Service Commission unanimously approved a three-year rate plan for National Grid’s Upstate New York electric and natural gas business, serving 2.4 million customers.  The rate plan will enhance energy affordability programs, enable key reliability and resiliency investments, promote economic growth, and advance New York’s energy goals.

The rate filing, initially submitted in May 2024, underwent a comprehensive review process that involved responding to more than 1,600 information requests and participating in multiple public statement hearings. In May, National Grid, together with the Department of Public Service Staff and parties representing a broad perspective of interests, submitted a joint proposal outlining the terms of three-year rate settlement.  The parties to the joint proposal include:

“We understand affordability is top-of-mind for our customers. In reaching this settlement, we have collaborated with various parties and organizations to strike a balance that prioritizes energy affordability while ensuring grid resiliency — especially considering the record number of damaging storms we’ve seen in upstate New York,” said Phil DeCicco, National Grid’s New York General Counsel.

Highlights of the new plan include:

• Critical investments to ensure the reliability and safe operation of the company’s energy delivery system, including capital investments of $1.4 billion in the electricity delivery system and $351 million in the natural gas system in the first year.
• Enhanced system resiliency and reliability measures to manage and reduce the impact of frequent severe weather and enable continued strong storm response.
• More than $290 million in bill discounts for income eligible Upstate New Yorkers, including approximately $72 million in the first year.
• An $3 million shareholder-funded health and safety weatherization program that will assist low-to-moderate and disadvantaged community households.
• Additional energy affordability programs and services, including cold-weather protections, enhanced outreach and education efforts in disadvantaged communities, a dedicated liaison who will provide enhanced service to indigenous communities in the company’s service area, and more in-person customer assistance events.
• Integrated energy planning to consider interactions among gas, electric and customer energy systems to achieve long-term climate goals in a safe and affordable way.
• Infrastructure investments to support economic development, connect clean energy, and enhance security.
• Targeted programs and dedicated teams to better serve residential, commercial and industrial customers.
• Adding more than 480 jobs to support electric and gas operations, grid modernization and customer programs. These will include local employees who live and work in the communities we serve and support the regional economy. 

“Energy demand is expected to increase in coming years,” DeCicco said. “This rate plan is critical to assure National Grid's ability to maintain reliability, resiliency, and cost-effectiveness of the energy systems that serve more than two million Upstate New York customers. It also offers new and targeted programs to better meet the needs of our customers and communities.”

Residential electricity customers using an average of 625 kilowatt-hours per month would see an estimated total monthly bill increase of $14.32 in the first year, $6.44 in the second year and $4.34 in year three.

Residential natural gas customers using an average of 78 therms per month would see an estimated total monthly bill increase of $7.66 in the first year, $8.08 in the second year and $9.18 in year three.

National Grid’s upstate New York electricity business serves 1.7 million customers in more than 680 cities, villages and towns across 25,000 square miles, while its gas distribution business serves more than 640,000 customers across portions of central, northern and eastern New York.

National Grid’s full rate case filing can be found on the Public Service Commission’s website as ngrid.com/uny-ratefiling.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future — transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions.