National Grid cleared to raise rates

ALBANY, NY (WIVB) - New York utility regulators have approved new electricity and natural gas delivery rates for National Grid.
 
The Public Service Commission says Thursday the company will be allowed to collect a total of $123-million more electric revenue and almost $9-million more gas revenue over three years.
 
But the PSC says those increases will be offset by the expiration of a $190 million surcharge and the return of deferred customer credits, resulting in a 6.6-percent cut customer's electric delivery bills in the first year, followed by increases of 3.3-percent and 2.1-percent.

It says a typical residential gas customer would see a drop of four-percent the first year and then increases of 3.9-percent and 2.9-percent.