National Grid signs settlement to return $7.9M to ratepayers related to corporate tax cuts

Updated at 4:31 p.m., May 29, 2019

NATIONAL GRID has agreed to rebate $7.9 million to ratepayers as the result of a settlement with the state over over-collections that occurred after the 2017 corporate tax rate cut. / COURTESY NATIONAL GRID
NATIONAL GRID has agreed to rebate $7.9 million to ratepayers as the result of a settlement with the state over over-collections that occurred after the 2017 corporate tax rate cut. / COURTESY NATIONAL GRID
PROVIDENCE – National Grid Rhode Island signed a settlement to reimburse ratepayers $7.9 million related to rate overcollection following federal corporate tax rate cuts in 2017, Lt. Gov. Dan McKee announced Wednesday. The funds will result in a 12-month reduction to utility rates in Rhode Island, starting in July 2019 for electricity customers and November…

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