By Jaime Llinares Taboada

 

National Grid PLC said Monday that it has filed a request to the Massachusetts Department of Public Utilities to increase its gas distribution revenue by $138 million, and to allow it a return on equity of 10.5%.

The FTSE 100 energy-networks company said the revenue increase would cover higher operating costs and core investments. In addition, the group is also requesting a new performance-based rate mechanism that would link annual revenue increases to inflation, and new investments of up to $50 million to decarbonize natural gas networks--including hydrogen blending, shared geothermal loops, renewable natural gas, and demand-side response measures--,which would be claimed through existing regulatory mechanisms outside the requested revenue increase.

The rate filing is expected to conclude in Sept. 2021, and the new rates will be effective from Oct. 1, 2021.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

November 16, 2020 02:42 ET (07:42 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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