National Grid overcharges NY customers $68.9 million, prompts rate freeze

Dive Summary:

  • Nearly a million Brooklyn, Queens, and Staten Island National Grid customers were overcharged on their natural gas bills in 2010 and 2011, resulting in a $68.9 million overcharge.
  • Word of the price gouging has prompted investigators to freeze rates until 2015, state officials said.
  • New York’s Public Service Commission discovered the overcharge after noticing “the company’s high earnings.” The Brooklyn based National Grid charged customers around $2.90 extra a month for two years.

From the article:

... “State officials worked out an agreement with National Grid on how to spend the surplus cash. The company said it will improve its customer service to alleviate wait times on the phone.” ...

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Filed Under: Regulation & Policy