New York’s Public Service Commission has authorized National Grid to provide its customers with a $32 million credit to offset an increase in electric supply costs.

According to the commission, the price surges expected in February because of unusually cold weather would spike bills for upstate New York residential and small business customers by as much as 27 percent.

National Grid, after consulting with PSC staff, petitioned for authorization to use the one-time customer credit to keep total rates billed in February the same those in effect in January.

(AP)