Monitor: NGRID Settlement $ Sitting Unspent September 28 2020
The "National Grid Monitorship: Fifth Quarterly Report" was submitted to the PSC on September 18, 2020 and is pursuant to the Settlement Agreement of November 24, 2019 between the New York State Department of Public Service ("DPS") and National GridUSA.
Among the comments by the monitor, Adam H. Schuman of Perkins Coie LLP:
As to the $36 million which National Grid is required to pay under the Settlement, more than $30 million of the funds have yet to be expended. That is, none of the $20 million allocated for clean energy investments has been disbursed; and less than half has been paid for each of: (a) the $7 million designated for the CAP [Customer Assistance Program, designed to address compensation to residential and commercial applicants who were harmed by the denial of service during the moratorium], as to which some portion of the balance still may be reallocated due to low utilization of the CAP ; and (b) the $8 million allotted for the Efficiency Plan, which is intended to deliver a package of enhanced EE, DR and other gas conservation measures.
Read a summary review of the report by NY-GEO member Billii Roberti.