National Grid PLC - London-based electricity infrastructure operator - Massachusetts Department of Public Utilities issues its rate case order for National Grid’s Massachusetts Electric, or Meco, business. The order from the government of the north east US state approves a new five-year plan with new rates that Meco can charge customers from Tuesday. The plan represents a $79.6 million revenue increase, National Grid says. Enhanced cost recovery mechanisms also will allow Meco to earn close to the allowed return on equity of 9.4% on an equity ratio of 53%, the company says.

Current stock price: 1,032.15 pence, down 1.5% in London on Wednesday

12-month change: up 18%

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