National Grid Transco (NGG) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
