Wednesday, October 5, 2016

In the News: National Grid gets rate increase

From the Milford Daily News, articles of interest for Franklin:

"The Department of Public Utilities has approved a rate increase that will add about 5 percent to residential electric bill in National Grid’s service territory. 
The average will increase from $139 to $146. 
The agency approved $101 million of the $132 million sought by the company in its first distribution rate increase since 2009. 
The money will help pay for improvements to its facilities and its response to storm-related power failures."
Continue reading the article online (subscription may be required)

cover page of presentation to Town Council on Aggregation Program
cover page of presentation to Town Council on Aggregation Program

If the pending aggregation plan for Franklin goes through, this won't be an issue. The cooperative buying power of aggregation should do better than the current rate National Grid was authorized for.

Updated: Per the Town Council meeting, Wednesday, Oct 5, the aggregation plan was approved. They'll go to bid in the next two weeks and should have a decision to proceed at this time or not. The key will be what the market will offer for rates and for what period. Assuming the market rates will be lower than what NationalGrid received, this will go forward and we'll all save some money.

In early August, it was reported the State was beginning to deliberate on the aggregation proposal

No comments:

Post a Comment