Debate: Who covers loss if PSNH sells its plants?
“I don’t think we need legislation,” Bradley said.
Committee Chairman Rep. David Borden, D-New Castle, said he filed legislation last week as a placeholder for whatever the committee decides, describing the bill as an attempt to “reduce any barriers that would prevent the PUC from ruling on divestiture.”
Meanwhile, the PUC has only allowed partial recovery of the scrubber costs through electric rates since the technology went online in 2011. The utility company has a case pending before the state Supreme Court, claiming the pollution controls were mandated by the state and it is entitled to full cost recovery from ratepayers.
Bradley hammered away at the notion that the final cost of the scrubber project was so far above the initial estimates that PSNH has to bear some responsibility. When first proposed, the cost was estimated at $250 million; the impact on electric bills was supposed to be three-tenths of a cent per kilowatt hour.
Consumers have been paying, but the utility has actually benefitted from the cost-overuns, Bradley pointed out. As a regulated utility, PSNH and its parent NU are guaranteed a return in the 9-percent range on capital investments. Getting that return on a $440 million investment has netted the utility $38 million a year, Bradley said.
READER COMMENTS: 0
- Rep. Terie Norelli: New Hampshire workers deserve higher minimum wages - 0
- Les Bernal: Why don’t casino advocates and executives patronize casinos? - 0
- David Harsanyi: Do most Americans agree with Demsocrats? - 3
- Sam Cohen: ‘No compromise’ gun groups shoot themselves in the foot - 7
- Kathy Sullivan: Scott Brown’s prospects for a U.S. Senate win are poor - 17
- Deroy Murdock: A 'reset' with Russia that would get Putin's attention - 0
- Helen DePrima: How Obamacare worsened my health insurance - 20
- Jonah Goldberg: On Russia, Obama is stuck in the past - 3
- Ray Wieczorek: Joe Kenney is the man for the job - 1
READER COMMENTS: 0
- Excess school money may target crowded classes in Manchester - 0
- Nashua board members apologize for signingCommon Core letter - 0
- Sen. Shaheen participates in all-night climate change ‘talkathon’ - 0
- Ian Clark's On Hockey: Monarchs' Derek Forbort in the right place at the right time - 0
- Educators, advocates speak to new standards for use of force - 0
- Two Manchester health clinics working on merger plan - 0
- Manchester CrimeWatch: City woman connected to fatal crash in court again - 0
- Franklin’s newest police recruit, a German shepherd pup, can smell trouble - 0
- VFW still eyeing old Crown Hill fire station in Nashua for new home - 0
Allenstown rejects town and school budgets
Crowley elected in Northfield
John DiStaso's Granite Status: Shaheen among speakers at Senate Dems' climate change 'talkathon'