LONDON (ShareCast) - (Sharecast News) - UK energy infrastructure company National Grid said it had filed a joint proposal for a three-year rate settlement for its New York gas distribution businesses.


The settlement has been filed with the Department of Public Service Staff and other settling parties, proposing new rates back-dated to April 2020. A final decision from the New York Public Service Commission is expected later this summer, National Grid said on Monday.

"The settlement maintains focus on managing customer affordability in response to the economic downturn caused by Covid-19, while funding programmes necessary to maintain safe and reliable service, modernise the gas networks, and promote economic growth in the state," it added.

"It includes investment to address the long-term gas supply constraint in downstate New York, as well as programmes to reduce methane emissions and support clean gas to help the state's environmental goals."

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