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National Grid Gains Approval for Revenue Boost

National Grid Gains Approval for Revenue Boost

National Grid Transco (NGG) has released an update.

National Grid Transco’s Massachusetts Electric business has been granted a rate case order by the Massachusetts Department of Public Utilities, allowing for a $79.6 million revenue increase and new rates starting October 1, 2024. The order introduces new regulatory recovery mechanisms to fund capital investments, manage Operating and Maintenance costs, and improve storm cost recovery. This strategic move is anticipated to enable the company to earn closer to the allowed Return on Equity of 9.35%.

For further insights into NGG stock, check out TipRanks’ Stock Analysis page.

Questions or Comments about the article? Write to editor@tipranks.com

Questions or Comments about the article? Write to editor@tipranks.com
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