National Grid given permission to raise prices in Massachussetts

For the first time since 2010, the US state of Massachussetts has given National Grid the 'green light' to raise its prices for 1.3m electricity distribution customers.

The new rate order allows National Grid to make a 9.9% return on equity on a capital structure made up 50.7% by equity.

It will also result in a $101m boost to its revenues, versus the $130m lift the company had requested.

National Grid estimated residential customers would see their bills increase by approximately 7% as a result.

The new distribution rates were set to come into effect on 1 October 2016.