Company: NEWEN
Filing Date: 2025-11-06
Form Type: 6-K
Source: 0001654954-25-012622
Chunk: 10

Company: NATIONAL GRID PLC
Filing Date: 2025-11-06
Form: 6-K
Chunk 10
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 Massachusetts Electric (MECO) rate order. Cost recovery for these investments will be similar to the current MECO capital tracking mechanism and aligns to our five-year financial framework.

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In August, we received unanimous approval from the New York PSC for our joint proposal for NIMO. The rate settlement includes funding for $5.6 billion of capital investment over three years, and a 9.5% allowed RoE. It also includes $290 million in bill discounts for low-income customers across the three years of the rate plan (representing discounts of up to 20% on gas and 30% on electric for low-income customers).

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In September, we provided views on the New York State Energy Plan. The plan outlines a long-term strategy to meet New York’s energy needs whilst supporting economic growth, reliability and decarbonisation. It emphasises the importance of infrastructure investment and recognises the continued role gas networks have to play in maintaining security of supply. We have advocated a balance between clean energy goals with affordability and reliability, including the future role for gas. The State Energy Planning Board is now reviewing comments and we anticipate a final version to be released by the end of calendar year 2025.

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In September, the New York PSC issued its Order on our Long-Term Gas Plan addendum filing, including the need for the proposed Northeast Supply Enhancement (NESE) pipeline project. The PSC concluded that the pipeline, which is being developed by Williams Transco and due to commission in late 2027, would offer significant reliability benefits to our gas distribution system and to customers who depend on gas supply for heating, as well as the potential for lower wholesale electricity costs. This aligns with our view that the pipeline is needed to ensure the continued provision of safe, reliable and affordable gas supply to customers in New York City and on Long Island.

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We are now preparingto file for new rates for our Massachusetts Gas business, with the filing due to be made in January 2026, to allow us more time to engage with new stakeholders and propose measures aligned with evolving State policy goals.

#### Delivering as a Responsible Business
In the face of affordability challenges, we continue to support our customers through payment assistance programmes, flexible payment plans and energy efficiency solutions. In our recently approved NIMO electricity rate case, we included $290 million of assistance across the rate case for low-income households. In our MECO business, we introduced a multi-tiered income discount rate to support