Niagara Mohawk Power Corporation PFD 3.60%
NMK-PB
New York Stock Exchange79.57
USD
-6.43
- -
Niagara Mohawk Power Corporation PFD 3.60%
NMK-PB
(New York Stock Exchange)
Recent
price
79.57
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Niagara Mohawk Power Corporation, a subsidiary of Niagara Mohawk Holdings Inc. and ultimately National Grid USA, provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in upstate New York, including areas of eastern, central, northern and western New York such as the Capital District, Syracuse, Buffalo and Niagara Falls; it distributes electricity to approximately 1.7 million customers via owned transmission and distribution lines with wholesale activities managed by the New York ISO, and natural gas to about 600,000 customers, serving as a provider of last resort in New York's deregulated power market. The company, founded in 1937 as Central New York Power Corporation and renamed Niagara Mohawk Power Corporation in 1949 following its evolution from the 1929 incorporation of 59 predecessor firms into Niagara Hudson Power Corporation, maintains headquarters at 300 Erie Boulevard West in Syracuse, New York. In April 2025, National Grid submitted a joint three-year rate plan proposal to the New York Public Service Commission for Niagara Mohawk's operations covering May 2025 to March 2028, featuring a 9.5% return on equity, $1.43 billion in electric capital expenditures and $351 million in gas capital expenditures for the first rate year to support reliability enhancements, renewable integration, gas pipeline replacements and energy efficiency programs; additionally, in July 2025, the company completed a $1.25 billion senior notes offering comprising $500 million of 4.647% notes due 2030 and $750 million of 5.996% notes due 2055.