NATIONAL GRID REDUCES RATE HIKE REQUEST, CITES TAX LAW
By Colin A. Young
STATE HOUSE NEWS SERVICE
STATE HOUSE, BOSTON, JAN. 11, 2018.....National Grid will seek a smaller rate hike in Massachusetts than it originally requested, the utility company said Thursday, citing the benefit of the recent federal tax reform bill.
The company announced that it will reduce its proposed rate hike for Bay Staters by $36 million -- from a total increase of $87 million to $51 million --due to unexpected savings the company is now expecting to see as a result of the federal corporate tax rate dropping from 35 percent to 21 percent.
"We are committed to ensuring that the tax savings of the legislation are fully realized and are used to help our customers in their energy bills," Cordi O’Hara, president and COO of National Grid in Massachusetts, said in a statement. "We’ll continue to seek opportunities to provide this benefit to all of our customers."
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