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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  National Grid plc    NG.   GB00B08SNH34

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05/02 NATIONAL GRID : Monday, May 02, 2016 - National Grid, New York Power..
05/01 NATIONAL GRID : Lawmakers seek greater role for wind power
05/01 NATIONAL GRID : NYPA Extend Power Discount Program
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National Grid : Monday, May 02, 2016 - National Grid, New York Power Authority Extend Electricity Discounts to North Country Businesses

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05/02/2016 | 07:39pm CEST
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May 2, 2016

WATERTOWN, N.Y. - National Grid and the New York Power Authority today announced an extension of the Temporary North Country Power Discount Program. Effective May 1, eligible commercial and industrial businesses and dairy farmers will continue to receive savings on their electricity bills.

Implemented through NYPA, National Grid will apply a temporary credit to monthly electricity bills of approximately 2,500 eligible customers in Franklin, Jefferson, and St. Lawrence counties.

'National Grid values its Northern New York customers and is committed to helping them manage their electricity bills,' said Ken Daly, National Grid's New York president. 'The cost savings to commercial customers who are selected for the discount program provides an incentive for them to reinvest those savings back into the region. It's a win-win for the customers and the local communities we proudly serve.'

The program, now in its second consecutive year, provides up to $10 million in annual energy savings to area businesses from the sale of unused hydropower generated at NYPA's St. Lawrence-Franklin D. Roosevelt Power Project in Massena. The unused power was previously allocated to Alcoa.

'This program has proven to be an excellent method of ensuring that proceeds from unutilized hydropower, designated for economic development, still have a significant impact in the North Country,' said Gil C. Quiniones, NYPA president and CEO. 'Local businesses and dairy farms in the region will continue to benefit from the reduced rates.'

Eligible National Grid customers will see a reduction in the delivery portion of their National Grid electricity bills. The exact amount of the discount will be displayed as a credit on a separate line item labeled 'NYPA Temporary Elec. Cr.' Credits will continue to be applied to customers' monthly bills for up to the remaining two years of the program.

For more information on the Temporary North Country Power Discount Program and the eligibility requirements, customers are encouraged to call NYPA at 914-390-8157 or email PowerDiscount@nypa.gov.

In addition to helping local businesses save money with the Temporary North Country Power Discount Program, since 2003 National Grid has supported the local economy with its suite of Shovel Ready upstate New York economic development programs. National Grid's Economic Development staff work with municipalities, local economic development organizations, chambers of commerce and private developers to identify eligible projects that will help contribute to economic revitalization of the region.

For more information about National Grid's upstate New York economic development programs, customers should call National Grid at 315-428-6798 or email ShovelReady@nationalgrid.com.

About NYPA NYPA is the nation's largest state public power organization, through the operation of its 16 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. For more information visit http://www.nypa.gov/and follow us on Twitter @NYPAenergy, Facebook, Instagram, WordPress, and LinkedIn.

About National Grid

National Grid (LSE: NG; NYSE: NGG) is an electricity and natural gas delivery company that connects nearly 7 million customers to vital energy sources through its networks in New York, Massachusetts and Rhode Island. It is the largest distributor of natural gas in the Northeast. National Grid also operates the systems that deliver gas and electricity across Great Britain.

Through its U.S. Connect21 strategy, National Grid is transforming its electricity and natural gas networks to support the 21st century digital economy with smarter, cleaner, and more resilient energy solutions. Connect21 is vital to our communities' long-term economic and environmental health and aligns with regulatory initiatives in New York (REV: Reforming the Energy Vision) and Massachusetts (Grid Modernization).

For more information please visit our website, or our Connecting website, follow us on Twitter, watch us on YouTube, friend us on Facebook, find our photos on Instagram

National Grid plc issued this content on 02 May 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 May 2016 17:38:04 UTC. Original document available at https://www9.nationalgridus.com/aboutus/a3-1_news2.asp?document=10413

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