Rhode Island Regulator Slashes National Grid’s Rate Request by 75 Percent, Advances Grid Modernization Initiative

The Rhode Island Public Utilities Commission on Aug. 24 approved a settlement cutting National Grid plc’s one‐year base rate request by 75 percent and lowering the company’s allowed return‐on‐equity to 9.275 percent from the current 9.5 percent. The agreement slashes the company’s originally requested revenue hike by about $54 million and refunds all the benefits…