Columbia Gas of Massachusetts files new rates with DPU
Columbia Gas of Massachusetts, a subsidiary of NiSource, filed a petition with the Massachusetts Department of Public Utilities to increase annual revenues by $24.1M, representing a 3.9% increase in current operating revenues. The request addresses increases in operating and maintenance costs incurred to comply with increasingly stringent federal and state regulatory mandates and capital costs incurred to upgrade gas infrastructure since the last time Columbia Gas changed its rates in 2016. The DPU decision is expected by February 28, 2019, with rates taking effect March 1, 2019. The Columbia Gas request is reduced by the impact of the federal Tax Cuts and Jobs Act, which became effective on January 1, 2018. The request includes a proposal for a refund to customers of $9.1M, beginning on the effective date of the revised rates, related to the benefit of the tax cut as of January 1, 2018. This $9.1M refund will partially offset the $24.1M increase in the first year the revised rates are in effect.