Monday, November 20, 2006

National Grid to Cut Rates

The Providence Journal:

National Grid yesterday proposed lowering electricity rates by about 6.6 percent, which would trim the bill of a typical residential customer by about $5.11 a month.

In a filing submitted to the Public Utilities Commission, National Grid said that declining natural gas and crude oil prices have lowered the projected costs of buying electricity for its customers next year, allowing it to lower rates.

The company proposed that the new rates become effective Jan. 1.