Energy and heating giant National Grid announced Thursday it will slash a proposed natural gas rate hike ahead of next winter, citing the the passage of a federal tax bill spearheaded by Republicans and signed into law earlier last month by President Donald Trump.
The announcement states that Massachusetts customers can now expect to pay less next winter than originally projected, thanks to the decision to decrease a proposed rate hike by $36 million — from an $87 million increase to a $51 million increase. That's a drop of about 41 percent.
National Grid plans to lower planned increases in natural gas rates in Massachusetts because of the federal corporate tax cut signed into law December 22, the company announced Thursday.
The utility company originally proposed to increase natural gas rates by $87 million starting in October 2018 but now will ask the state Department of Public Utilities for permission to increase rates by $51 million. That's about 41 percent less.
