What National Grid's Proposed Rate Freeze Could Mean for Property Owners

Real Estate In-Depth • July 16, 2026

National Grid has filed a proposal with the New York State Public Service Commission that would freeze natural gas delivery rates for approximately 1.9 million customers in New York City and Long Island through March 2028.


If approved, the plan would extend current delivery rates for an additional year rather than implement an increase when the existing rate plan expires.


While the proposal would not affect the cost of natural gas itself, which fluctuates based on market conditions it would maintain the utility's delivery charges at current levels. Delivery charges cover the cost of operating, maintaining and upgrading the gas distribution system.


For property owners, landlords, co-op and condo boards, and multifamily housing operators, utility expenses remain one of the largest operating costs. As insurance premiums, maintenance expenses and labor costs continue to rise, a freeze on delivery charges could help provide greater predictability for budgeting and financial planning.


The proposal also arrives amid ongoing discussions about housing affordability and the rising cost of homeownership and rental housing throughout the region. Utility costs are often a significant component of monthly housing expenses, making energy affordability an important consideration for both property owners and residents.



National Grid stated that the proposal is intended to provide rate stability while continuing investments in system reliability, safety and infrastructure improvements. The filing is subject to review and approval by the Public Service Commission.


What Property Owners Should Know


Who is affected?
Approximately 1.9 million National Grid gas customers in New York City and Long Island.


What's being proposed?
A one-year extension of current gas delivery rates through March 2028.


What is not changing?
Natural gas supply costs, which continue to fluctuate based on market conditions.


Why it matters
Utility expenses are a significant operating cost for residential and commercial properties and directly impact housing affordability.


What's next?
The proposal will be reviewed by the New York State Public Service Commission before any final decision is made.


Source: National Grid

Putnam County Reconsiders Future of Prime Downtown Carmel Property

By Real Estate In-Depth • July 16, 2026
The property, located at 34 Gleneida Avenue, occupies a highly visible location across from the Putnam County Courthouse and overlooking Lake Gleneida.

Data Center Tax Breaks Face New Scrutiny as New York Pauses Large Projects

By Real Estate In-Depth • July 16, 2026
New York’s growing demand for data centers is fueling a debate over tax incentives, energy infrastructure and economic development.

Groundbreaking Ceremony for Park Square Yonkers Residential Project Set for July 21

By Real Estate In-Depth • July 16, 2026
Park Square Yonkers is a $185 million, 500,000-square-foot mixed-use development that will include 340 residential units, with 10% designated as affordable housing.

Bronx Foreclosures Reach Seven-Year High as Housing Costs Continue to Pressure Homeowners

By Real Estate In-Depth • July 16, 2026
The rise in filings comes as many homeowners continue to navigate higher borrowing costs, increased property taxes, insurance expenses and ongoing affordability pressures.

Walmart Pursues Plans for Major Distribution Center in Orange County

By Real Estate In-Depth • July 16, 2026
If approved, the facility would further strengthen Orange County's position as a growing logistics and distribution hub.

McCullough, Goldberger & Staudt, LLP Announces Final Approval of Plans for Development of Luxury Condominium in White Plains, NY

By Real Estate In-Depth • July 14, 2026
The law firm of McCullough, Goldberger & Staudt, LLP (MGS) recently announced final approval by the White Plains Planning Board of 510 North Broadway.
More