National Grid and KeySpan file to make savings for New Hampshire customers

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Westborough, MASS and Brooklyn, NY, USA — (METERING.COM) — August 15, 2006 – KeySpan Corporation and National Grid have announced the filing of a plan for the merged companies to provide savings and improved service delivery for customers through operating efficiency.

According to the proposed plan, the companies will provide the benefits through combined resources and by comprehensively managing a large gas supply. The plan calls for National Grid resources and expertise to complement Keyspan’s existing strengths.

Commenting on the plan William T. Sherry, executive vice president New Hampshire public affairs for National Grid said: “National Grid and KeySpan are delivering on our promise to bring savings and additional benefits to customers in New Hampshire – our business is inherently local, with employees living and working throughout the territory we serve. We are also committed to maintaining historic levels of charitable giving and community investment”.

Speaking on behalf of KeySpan, president of Energy Delivery Nick Stravropoulos said: “Our new combined company, which forms the third largest gas delivery company in the nation, means we can provide these additional benefits to our New Hampshire customers”.

Under the proposed plan customer benefits will include:

  • More than US$12.5 million in direct savings from operating efficiency
  • Over US$1.1 million in gas savings as a result of supply management
  • The freezing KeySpan’s current delivery rates into 2008, however existing prices will be subject to fluctuation and market conditions in terms of pricing.
  • Avoiding the costs for the upgrade of existing billing and information systems
  • A continuation of KeySpan’s service standard’s, with a commitment to update the standards at the time of KeySpan’s future rate filing.