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| Contact: Deborah Sturm Rausch 518.473.9472 | For Immediate Release: May 23, 2008 |
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Statement Regarding Today’s National Grid Rate Increase Request
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The New York State Consumer Protection Board (CPB), as the sole Agency with statutory responsibility to represent consumers before the Public Service Commission (PSC), is concerned about National Grid’s formal request to the Public Service Commission (PSC), asking for an increase in its natural gas delivery rates of $95 million in additional revenues for its upstate operations. This is a raise of more than 30% over its current gas delivery rates. A rate increase of this magnitude will put a further strain on the wallets of consumers who are already confronted with mounting increases in costs of living. Therefore, I have asked our Agency experts to immediately begin a detailed analysis of financial, economic, policy and legal issues relating to the request to assure that the request is in the best interest of consumers and does not include an excessive profit rate for the Company. We will work at the PSC to advance our position when the matter is entertained in early 2009. The NYS CPB, established in 1970 by the New York State Legislature, is the State's top consumer watchdog and think tank. The CPB's core mission is to protect New Yorkers by publicizing unscrupulous and questionable business practices and product recalls; conducting investigations and hearings; enforcing the “Do Not Call” law; researching issues; developing legislation; creating consumer education programs and materials; responding to individual marketplace complaints by securing voluntary agreements; and, representing the interests of consumers before the Public Service Commission and other State and federal agencies. To file a consumer complaint with the NYS Consumer Protection Board (CPB), call our toll-free hotline at 800-697-1220 or visit CPB’s website at www.nysconsumer.gov. In addition to the online complaint form, the website is home to important consumer safety information. To join the CPB’s Do Not Call Reminder list, send an e-mail to CPB's Do Not Call Reminder list |