[nep321]

CL&P is going to increase rates for 2012 in response to the storms that occurred in 2011. The storms throughout the year cost the company $350M, in addition to lost revenue of about $50M. The company will be increasing rates to account for this $400M loss on customers statewide. They also need to cover the cost of the severance package of the president and COO, who just resigned today.

I feel bad for the guy, as he was a scapegoat. An unprecendented natural disaster strikes the state and it's automaticaly the president of the power company to blame? Please.

CL&P Chief Jeffrey Butler Resigns - Courant.com

[JayCT]

I am sorry but it is hard to feel sorry for someone who makes the kind of money he does and gets what he will most likely get when he walks away. It is also kind of hard to simpathiize with a utility that already charges among the highest rates in the country and then can't get power back up for over a week.

The last storm may have been a fluke but it was not handled well. The fact that it was proved that they were not getting help from outside companies because they had not paid the bills from Irene was embarassing to say the least.

Poor CL&P lost $50 million in revenue. How about the thousands of small companies that lost business because they could not get the power on for the entire week. My office is located in one of those areas and I know a couple of companies that may actually go out of business because of this.

As the saying goes, trick me once "shame on you", trick me twice "shame on me". Jay

[JayCT]

Oh yeah, that guy is paid big bucks to take this kind of heat. That is part of the job.

And to expect the consumers to pay for it is even more troubling. Fortunately they cannot just raise rates. Hopefully the PUC will not make it that easy. Jay

[kidyankee764]

Jay - just because he makes good money doesn't mean he's a robot. The guy was placed in the spotlight and criticized nationwide. I didn't agree with all of CL&P's practices either but everytime this guy held a news conference, I swear I saw another wrinkle in his forehead. He looked tired, beat, sad and frustrated. FWIW, he didn't have power at his home until 8 days later.

[adamz]

Originally Posted by nep321

CL&P is going to increase rates for 2012 in response to the storms that occurred in 2011. The storms throughout the year cost the company $350M, in addition to lost revenue of about $50M. The company will be increasing rates to account for this $400M loss on customers statewide. They also need to cover the cost of the severance package of the president and COO, who just resigned today.
CL&P Chief Jeffrey Butler Resigns - Courant.com

They may ask to do so, but Public Utilities Regulatory Authority has to approve the request.

I for one hope they don't.

[adamz]

Originally Posted by kidyankee764

Jay - just because he makes good money doesn't mean he's a robot. The guy was placed in the spotlight and criticized nationwide. I didn't agree with all of CL&P's practices either but everytime this guy held a news conference, I swear I saw another wrinkle in his forehead. He looked tired, beat, sad and frustrated. FWIW, he didn't have power at his home until 8 days later.

My heart bleeds for him.

[Cambium]

. Wow... the drama continues with them.. They are getting reimbursements and yet they want more money from us. Friggin amazing. Severence and bonuses for poor decisions. I wonder if management will be replaced now.

And they ask for $10 MILLION from NU and the Northeast Utilities Foundation to help customers out???? Each CL&P customer would recieve $12.

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"The designation would be the third and highest tier of reimbursement, and based on the $27 million preliminary estimates from the Federal Emergency Management Agency, Fairfield and other counties, except New London would qualify."

Malloy: Report Losses, Save Receipts for CL&P Fund - Newtown, CT Patch

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"The aid will provide reimbursement to municipalities from all eight Connecticut counties for costs incurred for debris removal and emergency protective measures such as personnel overtime, equipment and fuel."

FEMA Assistance Approved For Connecticut - Avon, CT Patch

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All eight counties in Connecticut have received Category A (debris removal)and Category B (emergency protective measures, such as overtime, equipment, fuel) assistance for costs incurred during a 72-hour period.

Under this current declaration, eligible costs will be reimbursed based on a 75-25 split, meaning that FEMA will reimburse 75 percent of eligible costs, and the state, tribal nations, or municipalities (or certain non-profits) are responsible for 25 percent.

Connecticut Receives More FEMA Aid*|*The Hartford Guardian

[JViello]

As usual IBEW (Local 420 International Brotherhood Of Electrical Workers - Int'l Office) one of the largest campaign contributors in the nation wins and the people pulling the cart lose. Unions, state control, cronyism...day in the life.

Some of these cats were pulling down over $100 per hour. Really? Wow, most skilled tradesmen have a hard time commanding that kind of rate and still have to pay for equipment, overhead, taxes etc. Must be nice to show up, use someone's equipment, fuel, insurance etc and pull down 100 large an hour.

Merry Christmas indeed.

[kidyankee764]

Originally Posted by adamz

My heart bleeds for him.

Lets stop treating him like a Cheshire home-invasion suspect. It's only freakin' power, people.

[Cambium]

Originally Posted by JViello

As usual IBEW (Local 420 International Brotherhood Of Electrical Workers - Int'l Office) one of the largest campaign contributors in the nation wins and the people pulling the cart lose. Unions, state control, cronyism...day in the life.

Some of these cats were pulling down over $100 per hour. Really? Wow, most skilled tradesmen have a hard time commanding that kind of rate and still have to pay for equipment, overhead, taxes etc.

LOL. Yup. Sounds like Hockey Pay vs Baseball Pay. Hard, "skilled", physical work and they get 4 Mill...Stand there wait for the ball and they get 50 Million.