SSEZY - National Grid seeks higher revenue 10.5% RoE for Mass gas business

National Grid ([[NGG]] -1.3%) says it filed a request to the Massachusetts Department of Public Utilities to increase its gas distribution revenue by $138M, saying the increase would cover higher operating costs and core investments, and allow it a 10.5% return on equity.The company also asks for a new performance-based rate mechanism that would link annual revenue increases to inflation, and new investments of up to $50M to decarbonize natural gas networks.Separately, National Grid and utilities SSE (SSEZY) and Iberdrola-owned (IBDRY) Scottish Power say they plan to develop a 4 GW power link between Scotland and England.The companies say the multi-billion pound Eastern Link project will comprise two 2 GW subsea high-voltage direct current cables.

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National Grid seeks higher revenue, 10.5% RoE for Mass gas business