Rhode Island Public Utilities Commission Green Lights Grid Modernization Plan, Establishes Performance-Based Incentive Framework For National Grid

On August 24, 2018, the Rhode Island Public Utilities Commission (“PUC”) adopted an amended settlement in the Narragansett Electric Company (“National Grid”) rate case. The approved plan provides for an annual step increase over three years resulting in a cumulative $28.9 million rate increase for electric operations and a cumulative $17.4 million rate increase for gas operations. The Rhode Island PUC approved several Power Sector Transformation, Vision and Implementation Plan (“PST Plan”) initiatives proposed by National…