National Grid PLC Files 6-K on MA Electric Rate Case

TL;DR

National Grid filed a 6-K on a MA electric rate case order - watch for regulatory impacts.

AI Summary

On October 1, 2024, National Grid plc filed a Form 6-K to report on a Massachusetts electric 2024 rate case order. The filing indicates that the company is providing an update on regulatory proceedings relevant to its operations in Massachusetts.

Why It Matters

This filing provides an update on regulatory decisions impacting National Grid's electricity business in Massachusetts, which could affect future revenues and operational strategies.

Risk Assessment

Risk Level: medium — Regulatory decisions in rate cases can significantly impact a utility's financial performance and future investment plans.

Key Players & Entities

• NATIONAL GRID PLC (company) — Filer of the report
• 001-14958 (company) — SEC File Number for National Grid plc
• Massachusetts (location) — Jurisdiction of the electric rate case

FAQ

Key Financial Figures

• $79.6 million — October 2024 and a revenue increase of $79.6 million. The order introduces a new regulatory

Filing Documents

• a5357g.htm (6-K) — 33KB
• 0001654954-24-012604.txt ( ) — 34KB

From the Filing

ELECTRIC 2024 RATE CASE ORDER a5357g         UNITED STATES   SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549     FORM 6-K     REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Date: 01 October 2024   Commission File Number: 001-14958       NATIONAL GRID plc   (Translation of registrant’s name into English)   England and Wales   (Jurisdiction of Incorporation)        1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office)       Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   ☒   Form 20-F       ☐   Form 40-F   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ☐   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ☐   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.   ☐   Yes     ☒   No   If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a                       EXHIBIT INDEX   Exhibit No.   Description   99.1   Exhibit 99.1 Announcement sent to the London Stock Exchange on 01 October 2024   — Massachusetts Electric 2024 Rate Case Order     Exhibit 99.1     1 October 2024     National Grid plc   Massachusetts Electric 2024 Rate Case Order       Following the rate filing in November 2023, National Grid confirms that the Massachusetts Department of Public Utilities (DPU) has issued its rate case order for our Massachusetts Electric business (MECO).   The order approves a five-year plan with new rates effective 1 October 2024 and a revenue increase of $79.6 million. The order introduces a new regulatory recovery mechanism that provides timely funding for growing capital investment requirements up to a cap, a Performance Based Ratemaking recovery mechanism for Operating and Maintenance costs, and improved recovery of storm costs.   These enhanced cost recovery mechanisms should allow MECO to earn closer to the   allowed Return on Equity of 9.35% on an equity ratio of 52.83%.     Enquiries and   contacts     Investors and Analysts:   Angela Broad                                      +44 (0) 7825 351 918 Tom Edwards                                      +44 (0) 7976 962 791   Media:   Danielle Dominey-Kent                     +44 (0) 7977 054 575       CAUTIONARY STATEMENT   This announcement contains certain statements that are neither reported financial results nor other historical information. These Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These Company) financial condition, its results of operations and businesses, strategy, plans and objectives. Words such as 'aims', 'anticipates', 'expects', 'should', 'intends', 'plans', 'believes', 'outlook', 'seeks', 'estimates', 'targets', 'may', 'will', 'continue', 'project' and similar expressions, as well as and climate-related risks which differ from conventional financial risks in that they are complex, novel and tend to involve projection over long term scenarios which are subject to significant uncertainty and change. These forward-looking and are subject to assumptions, risks and uncertainties that could cause actual future results to differ materially from those expressed in or implied by such forward-looking statements or targets. Many of these assumptions, risks and uncertainties relate to factors that are beyond National Grid's ability to control, predict o

View Full Filing

View this 6-K filing on SEC EDGAR