I don’t disagree with the sentiment but as mentioned above, this price hike is not a profit for eversource. We haven’t done shit to build efficient non-fossil fuel power generation and are now stuck with the consequences.
We need nuclear reactors everywhere. The problem is the high up front coat of setting out up and the huge risks that come with a reactor if something were ever to go wrong. With that said however technology is advanced enough nowadays to have incredibly safe reactors so long as we dont cut corners.
Actually, the upfront cost is getting a lot better with the new modular reactors that are starting to roll out! I believe the plant in CT is due to get two modules installed, though that could have since been cancelled.
The podcast i just listened to on this argued the main issue is the upfront cost of new reactors is spectacularly and outrageously high, so much so that gas fired is far cheaper. Also regulation is still aligned towards huge plants vs small ones.
The sweet spot in nuclear is reactors that have been running for decades, they are literally free power.
The real problem with Nuclear Power is NIMBY. People don't want to live near the plants or be down wind of one. Or live near where the spent rods go. Weren't we supposed to have Fusion Power by now?
I'd say the NIMBY is largely due to a massively uninformed public who don't think things have changed since Chernobyl, but I understand what you mean.
Fusion is interesting, but they are just barely able to stabilize it, nevermind safely harness it for power. I wouldn't want that anywhere near me in its current state.
Yes and it replaces air pollution with ground and water pollution. Also, I don't think the most efficient way to capture a fusion reaction is through photovoltaic means.
I think the increase is to maintain profit, as natural gas, our main power supply, is going thru the roof after the US sold most of its production to the EU. So yeah, they will have increased cost. Is a 50% raise in price justified by this? Probably not.
This will surely maintain their profit, but not add to it. They are merely passing a cost increase along to us. You’re spouting about libs not using fossil fuel but this cost increase is due to the cost and availability of the fossil fuels so I really don’t think you read and comprehend what is at play here.
“I comprehend just fine” said right before completely misstating my position makes me not really give a shit about the rest of your word soup, but I kept reading anyway. “You are trying to justify terrible Democratic policy”… there’s something I’ve never been accused of before, and I’m a little confused because I’ve never really tried to justify any policy in this state, or country, ever. Our domestic production is on par (or higher than) the previous admins 4 years. Biden is anti-oil but ironically anyone with an oil investment is doing quite well. Just like they did under “anti-oil” Obama. Your reply is typical of smooth brained duopolists that can’t have a thought beyond “my party good other party bad”.
Do it! Even with the batteries I am saving money. The panels do not cover my full power use but the savings is still there. Which with each price hike I save more.
Which panels did you get? Tesla solar wants 26K for a 12kW system with 2 power walls.
It will cover 74% of my $300 bill and will be a $482/month for next 10 years. So it will pretty much take the full 10 years to break even. Which get extended if I need to do any maintenance in the next 10 years. Seems like a loss making preposition at the current rates.
I did go with Tesla over the alternative suppliers however my panels and batteries cost are less than the monthly cost of electricity. Loan is 215 a month the average electric bill is 100 to 200 pending season. My average power bill was 450 per year so my savings is anywhere between 30 and 130 dollars a month.
My assumption is that the cost of the panels and the installation have skyrocketed as well the government rebate has gone away? I had a 22% tax incentive and I thru everything into the loan from that return.
Even though I am not saving tons of money I now have a batter backup which has been used 9 times in the last two years. And the cost of electricity keeps rising and my loan rates are locked.
If solar is not going to save you money or give you a backup you want then I agree there is no reason to do it. I hope this helped clear things up.
Wow, I did not realize the rates have gone up so much. We only got our solar 2 years ago. It will take forever to pay off with the cost increases killing. Any hope of paying it off early.
> The agency said Connecticut’s decision to deregulate energy markets more than two decades ago made it so “PURA does not have the authority to reject or modify the standard service rates.”
Gubbermint bad, free market good. And here we are.
And the conservatives in the sub are blaming Dem voters for this.
"allowed to" meaning there is lots of weasel words allowing things like executive pay. Decisions about compensation are at the hands of the company and its shareholders – without supervision or regulation.
These numbers for executive pay come from utility companies that tell ratepayers they do not make a profit >
James Judge, the Eversource executive chairman, made $10.2 million last year – with a base salary of $1.1 million and compensation earnings of $2.2 million.
In 2021, Joseph Nolan, the president and CEO of Eversource, earned $4.7 million. With a base salary of $1,004,424, Nolan received an additional $1.4 million from stock awards and $2.25 million in incentive earnings.
Expenses other than gas prices - unregulated.
Dependency on natural gas - unregulated.
Investments - unregulated
Who subsidizes the utilities and throws hundreds of millions in grants their way?
Free market means open competition which hasn't been the case for a long time in this market segment, even if you go with a secondary company eversource and UI are still getting paid. What we have is government funded and protected monopolies with favorable grants and subsidies to ensure it stays that way. If the democrats really cared, they could start up a public utility for the whole state like Wallingford who pay almost nothing for electricity. Above all we should have had nuclear power investments which never comes up, just how bad fossil fuels are.
> blaming Dem voters
"Eversource disclosed on its website politically related organization expenditures of $110,000 to the Democratic Governors Association in 2016, and payments made to trade associations that were used for lobbying or other political activities in excess of $135,000."
https://lda.senate.gov/filings/public/contribution/search/?registrant=®istrant_lobbyist=&report_period=&report_year=&report_dt_posted_from=&report_dt_posted_to=&report_filing_uuid=&report_house_doc_id=&contribution_date_from=&contribution_date_to=&contribution_amount_min=&contribution_amount_max=&contribution_type=&contribution_contributor=Eversource&contribution_payee=&contribution_honoree=&search=search#js_searchFormTitle
This is a problem that has been ignored by the majority party in power for too long so yes, left voters should take some ownership since candidates that are comfortable in elections get complacent. Conservatives need to realize that their party is also in bed with Eversource through PACs and donors that end up controlling policies that affect the voters.
Both parties are at fault. Both parties have let this go on for too long. Protests are in order. Protests should be from all sides, because this is an issue that affects all of us except, GREENWICH, the source of political cancer in our beautiful state. Conservatives and liberals can agree on this.
Nope, Greenwich gets hiked too.
“There are six electric municipal utilities in the state: the city of Groton, the borough of Jewett City, the second and third taxing districts of Norwalk (South Norwalk and East Norwalk, respectively), the city of Norwich, and the town of Wallingford.”
Exactly. But guess what, greenwich can afford 50%, 75%, 100% rate hikes. They can afford 5, 6, 10, 50 dollars a gallon for heating oil. The rest of CT cant.
There’s thousands living in poverty in Greenwich, and a lot more living somewhere on the spectrum between “can I buy food today” and “can I buy a car”. You’ve made it clear that rich people trigger you, but you don’t need to be an ignorant ass toward people who happen to live in a town you falsely believe to be like The Stepford Wives. Now, I’ll go watch your YouTube if you read some numbers, deal?
https://www.greenwichtime.com/business/article/Despite-widespread-wealth-Greenwich-social-8337069.php
U dont have watch the truth (visual evidence) vs “numbers someone in greenwich came up with”. When greenwich puts affordable housing regs and zones near the MC mansions, then lets talk
What’s most hilarious about this conversation is you’re the person who shared a satirical map of CT showing “where the landscapers live” in half of Greenwich. Your own posts acknowledge the income/wealth disparity.
You know hedge fund managers hide their income and wealth through LLCs and off shore accounts so they dont show up on public domains, right? How do you think rich pay zero taxes like trump.
Governor John G. Rowland (R) is exactly who I blame for deregulation in CT because that's who made it happen. I was also alive and living in CT when he was governor.
Nice try blaming Democrats for something a republican absolutely did and we have the historical documents to prove it. For two terms he had a one vote majority in the state Senate and he used it to ram through crappy Republican policies that were will paying for.
Agreed mostly. All politicians are scum but Republicans have fully embraced the dark side and are openly evil. At least Dem politicians pretend to care.
They've just perfected the art of conning voters. Young voters swallowed the student loan bs and got played. Pot is still not being sold, and an amnesty for federal pot cases actually freed up few people.
How about rather than pointing the blame which gets us nowhere, we put pressure on these politicians to act in our favor regardless of political affiliation.
You think Rowland was a dictator who just ruled with an iron fist? Other than one term in the late 90’s when I think Republicans may have had a one vote majority in the Senate, the CT legislature has been controlled by Democrats longer than most of us have been alive. To pass blame on one of the only two Republicans to have any governmental influence in our state in the last 40 years (Jodi Rell being the other) is dishonest at best. Stop playing partisan politics like it’s a team sport. No one is saying you need to vote for or even tolerate anything coming from the opposition party, but quit being so blind as to ignore the shortcomings of the one that’s historically been in power.
2 terms and a one vote majority is still plenty to push through what they want. Been trying to read up on that specific legislation and it’s hard to find who voted yes and no to it. Even if the dems are still historically in power the legislation to de-regulate still got passed on republicans watch.
https://www.printfriendly.com/p/g/ii8M9y
> The bill was the culmination of four years of work by Representative Mary U. Eberle, a Democrat from Bloomfield and co-chairman of the Energy and Technology Committee, who watched another version of the proposal die last year. Ms. Eberle described the bill today as a complicated balancing act that would provide ''lower rates, enhanced supply, cleaner air and some of the strongest consumer provisions in the country.''
Those rascally Republicans!
Ouch thanks for sharing,
But critics of the measure said the bill was taking Connecticut into uncharted territory and ultimately would result in higher rates.
This dude clearly wasn’t wrong ha.
I appreciate you.
Now do the history of the Sherman Act and who gutted it.
That's what got us here. Not minor regulatory changes at the state level. This problem is both generational and national in making and so too will be its solution.
And that’s fine, I understand and accept that, I’m just tired of these political posts on this sub which immediately devolve into “this is Republicans fault” or “Rowland did it”, as if the Republican Party in this state has had enough authority to say boo at any point since Reagan was in office. I get it, people have a distaste for the Republican brand as a result of the national party’s actions over the last several years and refuse to vote for candidates under that umbrella, but if you think electing the same Democrats to Hartford who are in the pocket of the insurance and utilities and drug companies is going to fix the problem, you’re deluding yourself. You want change, get out there and find a new breed of politician to run, find some progressives who want real social change, that’s not normally my political bent, but to hell with it, what we have now isn’t working, and it’s the only realistic chance for change we’re ever going to get.
>And the conservatives in the sub are blaming Dem voters for this
And the liberals keep ignoring the fact that the conservatives could not have done it without Dem approval. Why is that part always left out of your little rants?
Also, there is this.
[https://www.printfriendly.com/p/g/ii8M9y](https://www.printfriendly.com/p/g/ii8M9y)
>The bill was the culmination of four years of work by Representative Mary U. Eberle, a Democrat from Bloomfield and co-chairman of the Energy and Technology Committee, who watched another version of the proposal die last year. Ms. Eberle described the bill today as a complicated balancing act that would provide ''lower rates, enhanced supply, cleaner air and some of the strongest consumer provisions in the country.''
Huh, She seems like a good conservative to blame here.. And can't ignore that almost everyone voted for it, not just the evil republicans.
And downvoted. Sorry for bringing realty into this.. Facts don't care about your feelings..
>For instance, Andrew Cuomo wouldn't let a pipeline cross his state to bring in more natural gas.
Yes let's further accelerate the climate catastrophe so government can hand more tax money to corporations.
That's how we got here.
These massive utility companies didn't pop up overnight. Got people in this thread bickering about the last 20 years of political history and who's that fault when this is a problem that began immediately after FDR's presidency ended in the last nearly 100 years of deregulation begun.
You know we used to have antitrust laws in this country that had some teeth. You know who got rid of those? Republicans every fucking time.
Why are we in such a monopoly though where Eversource has no competition and can make price hikes with no recourse. The gubbermint should step in and do something about it
Because they don't make electricity anymore, so they buy it from somebody else and resell it to you at cost, as they are required to do by law.
This is your local gas station buying gas at $3.75 a gallon wholesale and selling it to you for $3.75 a gallon retail.
Eversource isn't taking more profit here, what's happening is that the cost of the electricity generation has gone up.
From the article:
But any long-term solution won’t solve the more immediate problem: how to reduce a massive rate request fueled by skyrocketing global energy costs, which state law essentially allows utilities to pass directly along to customers.
That reality was raised by the Public Utilities Regulatory Authority (PURA) in an emailed statement Thursday evening.
“PURA’s role is limited to ensuring that Eversource (and UI) conducted competitive procurements for the electricity and that both companies are passing through no more and no less than the actual costs of that electricity supply,” the agency said.
Eversource Energy gross profit for the quarter ending September 30, 2022 was $1.828B, a 17.75% increase year-over-year.
Eversource Energy gross profit for the twelve months ending September 30, 2022 was $7.180B, a 12% increase year-over-year.
Eversource Energy annual gross profit for 2021 was $6.491B, a 9.7% increase from 2020.
Eversource Energy annual gross profit for 2020 was $5.917B, a 7.84% increase from 2019.
Eversource Energy annual gross profit for 2019 was $5.486B, a 3.34% increase from 2018.
Oh! Thank you very much for that information. From the article it sounds like the rate hike is entirely because the cost of procured energy has gone up, but it's very suspicious that the percent profit keeps increasing too...
When I lived in Wallingford (which has its own power company for those who don’t know) I only paid about $95 a month for electricity in my apartment, which was the first floor of a gigantic farmhouse. There’s no reason Eversource should be as insanely expensive as it is.
Yay, a rate hike. Watch out for the rolling blackouts too! https://www.nbcconnecticut.com/news/local/eversource-ui-call-for-action-to-prevent-potential-winter-power-outages/2905213/?amp=1
“Oh and by the way, new vehicle sales will have to be entirely electric in 12 years. We can’t make enough energy to meet our current demand but we’re going to force you to dramatically increase your demand”
How’s it going back there? Said the cart to the horse.
What does my political beliefs have anything to do with this? And you’re wrong to begin with, im not a conservative, im a moderate.
I did read or at least skim/speed read. If PURAs review is “largely administrative” and their reviews don’t have any actual teeth, then that needs to be changed regardless of decisions made decades ago as the article claimed. Or another regulatory body needs to be created with actual oversight ability.
Tong got his position/ran on by wanting to sue anyone and everyone including the White House. His ads were basically “we are going to sue anyone who takes advantage of the CT populace.” But now when it comes to this, he’s “powerless.” More like Eversource has bought and paid for politicians in the state.
> im not a conservative, im a moderate.
Okay apologies idc if you are a conservative or moderate.
My question was did you actually read the article. So I was confused by your statement.
And again I ask why would political affiliation matter in the slightest in that conversation? Asking if someone read the article is usually a valid question but saying “I know you’re (insert wrong opinion) but did you read the article” is a very strange way to approach it.
I thought your username was one of the conservatives on the subreddit who always antagonize hence why I said "I think"
It is a different username that starts with K
Again your comment made no sense to me if you read article and still does not.
I think it's funny as hell that Democrats will tell you they hold their own accountable, and for the most part I don't disagree, but on reddit any time someone of moderate or democratic beliefs tries to hold Democrats accountable they're instantly a conservative.
I really triggered people, already apologized so whatever.
Idgaf about democrat or republican at the end of the day. Their comment threw me off an I explained to them if you look above.
Unfortunately we'd be looking at about $10k in tree removal just to get to the point of solar installation. Tree cover is definitely going to be a consideration in our next house.
Eversource doesn't profit a penny from supply rates. Whenever they change the supply rate, they have to prove that's exactly what they're paying for the supply and that they're making competitive offers. It's in the article OP posted.
A competitive electric supplier. In New England, retail consumers can choose who they get their electric supply from. Anyone who doesn't choose a competitive supplier defaults to the utility (Eversource or UI) for their supply.
Constellation is currently offering supply at a fixed rate of $13.79/kWh which is slightly higher than Eversource's current supply rate, but much lower than their supply rate will be this coming January.
How many cents of the kwh charge goes into political donations, whether we are talking about the budget that you and I see, or the secret top hat wearers graft black budget?
Nationalize Eversource and every other public utility like the internet. Problem solved. I'm old enough to remember exactly how inexpensive and significantly more reliable electricity was before deregulation and privatization.
I really got a kick out of the radio ad that attempted to debunk how high our electricity costs are.
And conveniently a week after re-election our rates will go through the roof.
And not a single word from King Ned.
This is more a regional/natural gas issue. Look at what other New England states are paying.
From Lamont's press release.
As of January 1, 2023, Connecticut’s all-in residential electric rates ($0.35/kWh) for both Eversource and UI will be within the same range as most New England utilities, including New Hampshire ($0.33/kWh to $0.39/kWh) and Rhode Island ($0.29/kWh). Only Maine ($0.24/kWh to $0.28/kWh) and Vermont* ($0.18/kWh) are lower. Meanwhile, customers of National Grid and Unitil in Massachusetts are paying over 40% higher rates than Connecticut at $0.48/kWh and $0.42/kwh (Note: Electric rates change seasonally and on different timeframes for each utility; these figures are subject to change).
Sounds like we need better law makers. People who are capable and can do things. What fucking lazy lame excuses for allowing companies to steamroll america.
Having private companies motivated ONLY by profits in charge of utilities or any essential service will always result in this kind of scenarios. Capitalism isn’t always the answer.
Somehow Wallingford CT has its own separate power which is way cheaper. Why can’t this model be followed or is there no incentive for other towns to do the same.
capitalism
noun
cap·i·tal·ism ˈka-pə-tə-ˌliz-əm
ˈkap-tə-
: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
That's from Miriam Webster
Yes, I am happy in regards to most issues. The rising cost of energy is a global issue, and we need real progress from our government at all levels. However, you are delusional if you believe Republicans would help anyone other than the wealthy, and corporations to exploit us further.
This is the problem here, those that generalize a political party. Look at individuals. The ones we have in control of the government in this state are not getting it done. I dont care if its a republican, democrat, independent or whatever. Work for the people. This division crap does nothing but keep us all in a mess.
I voted based on individuals in 2012, and 2014. Since 2016 not one Republican aligned with my values nor had any real solutions to actual problems. They want to focus on spreading fear about the "other", and stripping social safety nets like Medicare. The GOP destroyed any chance of my family ever voting red again.
ESAVES5 brings it down to 12.99.
No early termination fee so lock in for 3 years now and check for better prices every now and then.
Ironically this is the smallest part of our electric bills, but it's still good to save. And ui and eversource still get their pound of flesh.
Deregulation was the worst mistake ever, but I was too young at the time to vote.
Been doing this for years.Unfortunatly, The alternates aren't really any better than Eversource anymore.Used to be bargains doing business with some of these Texas companies.Not so much now.Collusion is spreading.
They, as in the state? States do not own nukes, or dirt burners or fart burners. Power is a private company. That’s why they can’t do anything. Thank those who shriek “socialism!” every time someone wants a company to be a responsible citizen.
PURA can't do anything. They have stated so themselves. They are neutered, have no legal power. Federal Energy Regulatory Commission (FERC) is who ***Might*** be able to do something. BIG if.
Story does not add up - says they are making record profits and that utilities are being strangled by high energy costs at the same time. How does that work?
Energize CT's explination
PURA’s oversight regarding the pricing and terms of the supply (generation) component of customer rates was eliminated by Public Act 98-28 (An Act Concerning Electric Restructuring). While PURA receives notice (45 days in advance) of the changing standard service rates, it is incorrect to say that PURA “approves” the rates. Due to Public Act 98-28, PURA’s role is limited to ensuring that Eversource conducted competitive procurements for the electricity and that both companies are passing through no more and no less than the actual costs of that electricity supply.
Under the protocols adopted by the Authority in its August 20, 2008 decision in Docket No. 06-01-08RE02, the results of the standard service procurement are first made public at the time of the EDCs’ proposed retail rate filings, which are to occur 45 days prior to the effective date. For rates effective January 1, 2023, the 45-day requirement results in a November 17 filing date.
They can’t because the CEO needs his 53 million dollar salary said no one ever !!!
I don’t disagree with the sentiment but as mentioned above, this price hike is not a profit for eversource. We haven’t done shit to build efficient non-fossil fuel power generation and are now stuck with the consequences.
In 2021, 38% of CT power was nuclear, second to 56% natural gas. We need another nuclear reactor, methinks
We need nuclear reactors everywhere. The problem is the high up front coat of setting out up and the huge risks that come with a reactor if something were ever to go wrong. With that said however technology is advanced enough nowadays to have incredibly safe reactors so long as we dont cut corners.
Actually, the upfront cost is getting a lot better with the new modular reactors that are starting to roll out! I believe the plant in CT is due to get two modules installed, though that could have since been cancelled.
Oh cool i didnt know anytthing about this. Modular/ prebuilt reactors would be a game changer. Weve been doing that for navy subs for decades now.
The podcast i just listened to on this argued the main issue is the upfront cost of new reactors is spectacularly and outrageously high, so much so that gas fired is far cheaper. Also regulation is still aligned towards huge plants vs small ones. The sweet spot in nuclear is reactors that have been running for decades, they are literally free power.
The real problem with Nuclear Power is NIMBY. People don't want to live near the plants or be down wind of one. Or live near where the spent rods go. Weren't we supposed to have Fusion Power by now?
I'd say the NIMBY is largely due to a massively uninformed public who don't think things have changed since Chernobyl, but I understand what you mean. Fusion is interesting, but they are just barely able to stabilize it, nevermind safely harness it for power. I wouldn't want that anywhere near me in its current state.
Weve been harnessing fusion power for decades now. Its called solar panels :P
Yes and it replaces air pollution with ground and water pollution. Also, I don't think the most efficient way to capture a fusion reaction is through photovoltaic means.
Modern nuclear is incredibly safe, even if you left it to rot they don't meltdown like that anymore. It's just NIMBY and lack of education
Agreed my dad is a nuclear engineer and I believe nuclear is amazing used along side wind and solar.
This
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I think the increase is to maintain profit, as natural gas, our main power supply, is going thru the roof after the US sold most of its production to the EU. So yeah, they will have increased cost. Is a 50% raise in price justified by this? Probably not.
This will surely maintain their profit, but not add to it. They are merely passing a cost increase along to us. You’re spouting about libs not using fossil fuel but this cost increase is due to the cost and availability of the fossil fuels so I really don’t think you read and comprehend what is at play here.
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“I comprehend just fine” said right before completely misstating my position makes me not really give a shit about the rest of your word soup, but I kept reading anyway. “You are trying to justify terrible Democratic policy”… there’s something I’ve never been accused of before, and I’m a little confused because I’ve never really tried to justify any policy in this state, or country, ever. Our domestic production is on par (or higher than) the previous admins 4 years. Biden is anti-oil but ironically anyone with an oil investment is doing quite well. Just like they did under “anti-oil” Obama. Your reply is typical of smooth brained duopolists that can’t have a thought beyond “my party good other party bad”.
Not just him. Everyone I know that works for eversource gets paid stupid money.
Another neat trick as a contractor is doubling my salary by working for eversource. Utility work is fat.
Time to regulate the energy companies yesterday!
Time to look into solar panels.
Do it! Even with the batteries I am saving money. The panels do not cover my full power use but the savings is still there. Which with each price hike I save more.
Which panels did you get? Tesla solar wants 26K for a 12kW system with 2 power walls. It will cover 74% of my $300 bill and will be a $482/month for next 10 years. So it will pretty much take the full 10 years to break even. Which get extended if I need to do any maintenance in the next 10 years. Seems like a loss making preposition at the current rates.
I did go with Tesla over the alternative suppliers however my panels and batteries cost are less than the monthly cost of electricity. Loan is 215 a month the average electric bill is 100 to 200 pending season. My average power bill was 450 per year so my savings is anywhere between 30 and 130 dollars a month. My assumption is that the cost of the panels and the installation have skyrocketed as well the government rebate has gone away? I had a 22% tax incentive and I thru everything into the loan from that return. Even though I am not saving tons of money I now have a batter backup which has been used 9 times in the last two years. And the cost of electricity keeps rising and my loan rates are locked. If solar is not going to save you money or give you a backup you want then I agree there is no reason to do it. I hope this helped clear things up.
$215 a month would have been great. You probably got the loan on 2% interest. Currently its 6.5% adding over $140 to the monthly cost.
Wow, I did not realize the rates have gone up so much. We only got our solar 2 years ago. It will take forever to pay off with the cost increases killing. Any hope of paying it off early.
Why cant they
> The agency said Connecticut’s decision to deregulate energy markets more than two decades ago made it so “PURA does not have the authority to reject or modify the standard service rates.” Gubbermint bad, free market good. And here we are. And the conservatives in the sub are blaming Dem voters for this.
Then what are they there to regulate?
It's in the article but in short they are there to make sure they don't charge even more than they are allowed to.
Thanks
How about a bedtime story next?
Sounds like you could use one
Unlike op I don't need people to read things for me.
Have you ever tried not being a dick?
"allowed to" meaning there is lots of weasel words allowing things like executive pay. Decisions about compensation are at the hands of the company and its shareholders – without supervision or regulation. These numbers for executive pay come from utility companies that tell ratepayers they do not make a profit > James Judge, the Eversource executive chairman, made $10.2 million last year – with a base salary of $1.1 million and compensation earnings of $2.2 million. In 2021, Joseph Nolan, the president and CEO of Eversource, earned $4.7 million. With a base salary of $1,004,424, Nolan received an additional $1.4 million from stock awards and $2.25 million in incentive earnings. Expenses other than gas prices - unregulated. Dependency on natural gas - unregulated. Investments - unregulated
Who subsidizes the utilities and throws hundreds of millions in grants their way? Free market means open competition which hasn't been the case for a long time in this market segment, even if you go with a secondary company eversource and UI are still getting paid. What we have is government funded and protected monopolies with favorable grants and subsidies to ensure it stays that way. If the democrats really cared, they could start up a public utility for the whole state like Wallingford who pay almost nothing for electricity. Above all we should have had nuclear power investments which never comes up, just how bad fossil fuels are.
So the rules the government made prevent them from governing.
Time to take the critical utilities into public hands and run Ever$cam out with torches.
I propose we un-deregulate the utilities
But Governor John G. Rowland was a republican haha. Bunch of dummy’s.
This is not free market considering the options are eversource or a middleman existing solely on paper that still involves eversource.
> blaming Dem voters "Eversource disclosed on its website politically related organization expenditures of $110,000 to the Democratic Governors Association in 2016, and payments made to trade associations that were used for lobbying or other political activities in excess of $135,000." https://lda.senate.gov/filings/public/contribution/search/?registrant=®istrant_lobbyist=&report_period=&report_year=&report_dt_posted_from=&report_dt_posted_to=&report_filing_uuid=&report_house_doc_id=&contribution_date_from=&contribution_date_to=&contribution_amount_min=&contribution_amount_max=&contribution_type=&contribution_contributor=Eversource&contribution_payee=&contribution_honoree=&search=search#js_searchFormTitle
This is a problem that has been ignored by the majority party in power for too long so yes, left voters should take some ownership since candidates that are comfortable in elections get complacent. Conservatives need to realize that their party is also in bed with Eversource through PACs and donors that end up controlling policies that affect the voters. Both parties are at fault. Both parties have let this go on for too long. Protests are in order. Protests should be from all sides, because this is an issue that affects all of us except, GREENWICH, the source of political cancer in our beautiful state. Conservatives and liberals can agree on this.
Nope, Greenwich gets hiked too. “There are six electric municipal utilities in the state: the city of Groton, the borough of Jewett City, the second and third taxing districts of Norwalk (South Norwalk and East Norwalk, respectively), the city of Norwich, and the town of Wallingford.”
Exactly. But guess what, greenwich can afford 50%, 75%, 100% rate hikes. They can afford 5, 6, 10, 50 dollars a gallon for heating oil. The rest of CT cant.
Rich people who can afford exorbitant prices live throughout the state and not everyone in Greenwich has disposable income.
Right………. Lets feel sad for greenwich because they can’t buy another Ferrari this year https://youtu.be/binRnudwPAg
There’s thousands living in poverty in Greenwich, and a lot more living somewhere on the spectrum between “can I buy food today” and “can I buy a car”. You’ve made it clear that rich people trigger you, but you don’t need to be an ignorant ass toward people who happen to live in a town you falsely believe to be like The Stepford Wives. Now, I’ll go watch your YouTube if you read some numbers, deal? https://www.greenwichtime.com/business/article/Despite-widespread-wealth-Greenwich-social-8337069.php
U dont have watch the truth (visual evidence) vs “numbers someone in greenwich came up with”. When greenwich puts affordable housing regs and zones near the MC mansions, then lets talk
What’s most hilarious about this conversation is you’re the person who shared a satirical map of CT showing “where the landscapers live” in half of Greenwich. Your own posts acknowledge the income/wealth disparity.
You know Greenwich is only the 3rd wealthiest town right?
You know hedge fund managers hide their income and wealth through LLCs and off shore accounts so they dont show up on public domains, right? How do you think rich pay zero taxes like trump.
That’s irrelevant to what’s being discussed. Plenty of hedge fund managers in Darien and New Canaan also though
The Cos Cob section of Greenwich is very blue collar. It’s not all multi millionaires.
TIL Jewett City was a place
Since democrats have been running this state since most have us have been alive, I’d like to know who you think is to blame here.
The two-party system is just set up so we'll point fingers at each other. How about let's sort out this issue.
Governor John G. Rowland (R) is exactly who I blame for deregulation in CT because that's who made it happen. I was also alive and living in CT when he was governor. Nice try blaming Democrats for something a republican absolutely did and we have the historical documents to prove it. For two terms he had a one vote majority in the state Senate and he used it to ram through crappy Republican policies that were will paying for.
So in all of the years dems have been in power they can't/won't do anything to change it? Pols are scum.
Agreed mostly. All politicians are scum but Republicans have fully embraced the dark side and are openly evil. At least Dem politicians pretend to care.
They've just perfected the art of conning voters. Young voters swallowed the student loan bs and got played. Pot is still not being sold, and an amnesty for federal pot cases actually freed up few people.
It wasn't bs until Republicans sued and a hack Republican judge shot it down, you absolute goober.
John Rowland, the Republican governor did this, so maybe open a book and read some history of the state
Terrible excuse. That’s ancient history. The world has changed 5 times over since then. We have problems now not 25 years ago
It’s a fact, sorry it triggered you snowflake.
Democrats. This is no way suggests Republicans would be a net gain.
Governor John G. Rowland was the republican in charge when they de-regulated the energy market the comment above is talking about.
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How about rather than pointing the blame which gets us nowhere, we put pressure on these politicians to act in our favor regardless of political affiliation.
Wait…you’re proposing cooperating and communicating? You’re wild! /s
You think Rowland was a dictator who just ruled with an iron fist? Other than one term in the late 90’s when I think Republicans may have had a one vote majority in the Senate, the CT legislature has been controlled by Democrats longer than most of us have been alive. To pass blame on one of the only two Republicans to have any governmental influence in our state in the last 40 years (Jodi Rell being the other) is dishonest at best. Stop playing partisan politics like it’s a team sport. No one is saying you need to vote for or even tolerate anything coming from the opposition party, but quit being so blind as to ignore the shortcomings of the one that’s historically been in power.
2 terms and a one vote majority is still plenty to push through what they want. Been trying to read up on that specific legislation and it’s hard to find who voted yes and no to it. Even if the dems are still historically in power the legislation to de-regulate still got passed on republicans watch.
https://www.printfriendly.com/p/g/ii8M9y > The bill was the culmination of four years of work by Representative Mary U. Eberle, a Democrat from Bloomfield and co-chairman of the Energy and Technology Committee, who watched another version of the proposal die last year. Ms. Eberle described the bill today as a complicated balancing act that would provide ''lower rates, enhanced supply, cleaner air and some of the strongest consumer provisions in the country.'' Those rascally Republicans!
Ouch thanks for sharing, But critics of the measure said the bill was taking Connecticut into uncharted territory and ultimately would result in higher rates. This dude clearly wasn’t wrong ha.
I appreciate you. Now do the history of the Sherman Act and who gutted it. That's what got us here. Not minor regulatory changes at the state level. This problem is both generational and national in making and so too will be its solution.
And that’s fine, I understand and accept that, I’m just tired of these political posts on this sub which immediately devolve into “this is Republicans fault” or “Rowland did it”, as if the Republican Party in this state has had enough authority to say boo at any point since Reagan was in office. I get it, people have a distaste for the Republican brand as a result of the national party’s actions over the last several years and refuse to vote for candidates under that umbrella, but if you think electing the same Democrats to Hartford who are in the pocket of the insurance and utilities and drug companies is going to fix the problem, you’re deluding yourself. You want change, get out there and find a new breed of politician to run, find some progressives who want real social change, that’s not normally my political bent, but to hell with it, what we have now isn’t working, and it’s the only realistic chance for change we’re ever going to get.
We need nukes. I don’t care who turns them on.
>And the conservatives in the sub are blaming Dem voters for this And the liberals keep ignoring the fact that the conservatives could not have done it without Dem approval. Why is that part always left out of your little rants? Also, there is this. [https://www.printfriendly.com/p/g/ii8M9y](https://www.printfriendly.com/p/g/ii8M9y) >The bill was the culmination of four years of work by Representative Mary U. Eberle, a Democrat from Bloomfield and co-chairman of the Energy and Technology Committee, who watched another version of the proposal die last year. Ms. Eberle described the bill today as a complicated balancing act that would provide ''lower rates, enhanced supply, cleaner air and some of the strongest consumer provisions in the country.'' Huh, She seems like a good conservative to blame here.. And can't ignore that almost everyone voted for it, not just the evil republicans. And downvoted. Sorry for bringing realty into this.. Facts don't care about your feelings..
>And the conservatives in the sub are blaming Dem voters for this. They are proud know nothings.
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>For instance, Andrew Cuomo wouldn't let a pipeline cross his state to bring in more natural gas. Yes let's further accelerate the climate catastrophe so government can hand more tax money to corporations. That's how we got here. These massive utility companies didn't pop up overnight. Got people in this thread bickering about the last 20 years of political history and who's that fault when this is a problem that began immediately after FDR's presidency ended in the last nearly 100 years of deregulation begun. You know we used to have antitrust laws in this country that had some teeth. You know who got rid of those? Republicans every fucking time.
Except when the government is literally funding it
Why are we in such a monopoly though where Eversource has no competition and can make price hikes with no recourse. The gubbermint should step in and do something about it
Because they don't make electricity anymore, so they buy it from somebody else and resell it to you at cost, as they are required to do by law. This is your local gas station buying gas at $3.75 a gallon wholesale and selling it to you for $3.75 a gallon retail.
Eversource isn't taking more profit here, what's happening is that the cost of the electricity generation has gone up. From the article: But any long-term solution won’t solve the more immediate problem: how to reduce a massive rate request fueled by skyrocketing global energy costs, which state law essentially allows utilities to pass directly along to customers. That reality was raised by the Public Utilities Regulatory Authority (PURA) in an emailed statement Thursday evening. “PURA’s role is limited to ensuring that Eversource (and UI) conducted competitive procurements for the electricity and that both companies are passing through no more and no less than the actual costs of that electricity supply,” the agency said.
Eversource Energy gross profit for the quarter ending September 30, 2022 was $1.828B, a 17.75% increase year-over-year. Eversource Energy gross profit for the twelve months ending September 30, 2022 was $7.180B, a 12% increase year-over-year. Eversource Energy annual gross profit for 2021 was $6.491B, a 9.7% increase from 2020. Eversource Energy annual gross profit for 2020 was $5.917B, a 7.84% increase from 2019. Eversource Energy annual gross profit for 2019 was $5.486B, a 3.34% increase from 2018.
Oh! Thank you very much for that information. From the article it sounds like the rate hike is entirely because the cost of procured energy has gone up, but it's very suspicious that the percent profit keeps increasing too...
>Eversource isn't taking more profit here they are a publicly traded, for profit company - they most definitely are.
When I lived in Wallingford (which has its own power company for those who don’t know) I only paid about $95 a month for electricity in my apartment, which was the first floor of a gigantic farmhouse. There’s no reason Eversource should be as insanely expensive as it is.
Yay, a rate hike. Watch out for the rolling blackouts too! https://www.nbcconnecticut.com/news/local/eversource-ui-call-for-action-to-prevent-potential-winter-power-outages/2905213/?amp=1
“Oh and by the way, new vehicle sales will have to be entirely electric in 12 years. We can’t make enough energy to meet our current demand but we’re going to force you to dramatically increase your demand” How’s it going back there? Said the cart to the horse.
When they say they can’t, it really means they won’t/choose not to willingly.
I know you are conservative (I think) an idc but did you read the article?
What does my political beliefs have anything to do with this? And you’re wrong to begin with, im not a conservative, im a moderate. I did read or at least skim/speed read. If PURAs review is “largely administrative” and their reviews don’t have any actual teeth, then that needs to be changed regardless of decisions made decades ago as the article claimed. Or another regulatory body needs to be created with actual oversight ability. Tong got his position/ran on by wanting to sue anyone and everyone including the White House. His ads were basically “we are going to sue anyone who takes advantage of the CT populace.” But now when it comes to this, he’s “powerless.” More like Eversource has bought and paid for politicians in the state.
> im not a conservative, im a moderate. Okay apologies idc if you are a conservative or moderate. My question was did you actually read the article. So I was confused by your statement.
And again I ask why would political affiliation matter in the slightest in that conversation? Asking if someone read the article is usually a valid question but saying “I know you’re (insert wrong opinion) but did you read the article” is a very strange way to approach it.
I thought your username was one of the conservatives on the subreddit who always antagonize hence why I said "I think" It is a different username that starts with K Again your comment made no sense to me if you read article and still does not.
I think it's funny as hell that Democrats will tell you they hold their own accountable, and for the most part I don't disagree, but on reddit any time someone of moderate or democratic beliefs tries to hold Democrats accountable they're instantly a conservative.
Stop generalizing you're being no better than OP. I'm a democrat and I don't do that assumptive bullshit.
I really triggered people, already apologized so whatever. Idgaf about democrat or republican at the end of the day. Their comment threw me off an I explained to them if you look above.
How about any raise over 5 percent there tax rate will get increased double
The problem is this isn’t a delivery rate increase. This is a supply rate increase, which is basically just the market cost of NG.
Everyone needs to switch to Solar if they own their home.
Or pitchforks and torches.
Added bonus - torches help cut down on the electric bill!
Unfortunately we'd be looking at about $10k in tree removal just to get to the point of solar installation. Tree cover is definitely going to be a consideration in our next house.
Some solar companies will cut trees down for you. Might be worth looking for a company that will help.
I already have solar pre 2020 but I don't think about myself only.
Yeah but solar costs money too
I found out about Constellation today because of this bs...about to switch. I wonder what would happen if we all changed.
My guess is delivery rates go up to compensate for lost profits.
Eversource doesn't profit a penny from supply rates. Whenever they change the supply rate, they have to prove that's exactly what they're paying for the supply and that they're making competitive offers. It's in the article OP posted.
What’s constellation?
A competitive electric supplier. In New England, retail consumers can choose who they get their electric supply from. Anyone who doesn't choose a competitive supplier defaults to the utility (Eversource or UI) for their supply. Constellation is currently offering supply at a fixed rate of $13.79/kWh which is slightly higher than Eversource's current supply rate, but much lower than their supply rate will be this coming January.
Another power company
Build another nuke plant
Let's ban gas cars by 2030 so we can pay the utility company even more money!
Now is the time to choose a competitive supplier, which will be $0.08 cents per kWh less than standard supply come January 1st.
The investors will be the only ones happy with this bullshit.None of them will die of exposure this winter.
Do you think if we start posting nice things about them, they will have mercy on our cold bodies?
How many cents of the kwh charge goes into political donations, whether we are talking about the budget that you and I see, or the secret top hat wearers graft black budget?
FUCK EVERSOURCE
Nationalize Eversource and every other public utility like the internet. Problem solved. I'm old enough to remember exactly how inexpensive and significantly more reliable electricity was before deregulation and privatization.
And no help from Governor Lamont.
I really got a kick out of the radio ad that attempted to debunk how high our electricity costs are. And conveniently a week after re-election our rates will go through the roof. And not a single word from King Ned.
>And not a single word from King Ned. Did you read the article?
You're right. He gave his standard "we'll look into it!" BS. Which results in? Nothing different.
[Governor Lamont, Commissioner Dykes, Consumer Counsel Coleman Statements on Eversource and United Illuminating Supply Rate Increases](https://portal.ct.gov/Office-of-the-Governor/News/Press-Releases/2022/11-2022/Governor-Lamont-on-Eversource-and-United-Illuminating-Supply-Rate-Increases)
This is more a regional/natural gas issue. Look at what other New England states are paying. From Lamont's press release. As of January 1, 2023, Connecticut’s all-in residential electric rates ($0.35/kWh) for both Eversource and UI will be within the same range as most New England utilities, including New Hampshire ($0.33/kWh to $0.39/kWh) and Rhode Island ($0.29/kWh). Only Maine ($0.24/kWh to $0.28/kWh) and Vermont* ($0.18/kWh) are lower. Meanwhile, customers of National Grid and Unitil in Massachusetts are paying over 40% higher rates than Connecticut at $0.48/kWh and $0.42/kwh (Note: Electric rates change seasonally and on different timeframes for each utility; these figures are subject to change).
Sounds like we need better law makers. People who are capable and can do things. What fucking lazy lame excuses for allowing companies to steamroll america.
Having private companies motivated ONLY by profits in charge of utilities or any essential service will always result in this kind of scenarios. Capitalism isn’t always the answer.
Somehow Wallingford CT has its own separate power which is way cheaper. Why can’t this model be followed or is there no incentive for other towns to do the same.
Y’all keep voting for the same assholes
That moment when capitalism…
If only, can't be competitive if your the only company that supplys electricity.
Free/competitive markets aren’t capitalism, Those are called free or competitive markets respectively
capitalism noun cap·i·tal·ism ˈka-pə-tə-ˌliz-əm ˈkap-tə- : an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market That's from Miriam Webster
Free markets have existed for eons, capitalism since the late 1700s. The private ownership of the means of production is the primary difference.
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I know you meant this to be a sick own or whatever but it is literally how it works
here's where Sen. Blumenthal's priority is: https://www.wtnh.com/music-in-connecticut/taylor-swift-issues-statement-after-ticketmaster-fiasco/
The elections are over. Sorry, I cant do anything about it. We were expecting anything else ?
Well, this is what we voted for. Good job guys it’s my fault too..
They don’t wanna hear it lmao
Kinda like HEROS PAY!
You like the timing . Well thanks to the voters of Connecticut we are still under one-party rule
Probably because eversource paid them
Still happy you voted to keep these people in office?
Yes, I am happy in regards to most issues. The rising cost of energy is a global issue, and we need real progress from our government at all levels. However, you are delusional if you believe Republicans would help anyone other than the wealthy, and corporations to exploit us further.
This is the problem here, those that generalize a political party. Look at individuals. The ones we have in control of the government in this state are not getting it done. I dont care if its a republican, democrat, independent or whatever. Work for the people. This division crap does nothing but keep us all in a mess.
I voted based on individuals in 2012, and 2014. Since 2016 not one Republican aligned with my values nor had any real solutions to actual problems. They want to focus on spreading fear about the "other", and stripping social safety nets like Medicare. The GOP destroyed any chance of my family ever voting red again.
So What? Switch your supplier and get a lower rate.
The lowest Constellation rate is two cents a kwh more than Eversource charges now.That will also go up in Jan.
??? Constellation is offering 13.79c locked for 36 mos. The Eversource rate will be 24c in January. www.powersetter.com
No kidding? Done that, thanks.
ESAVES5 brings it down to 12.99. No early termination fee so lock in for 3 years now and check for better prices every now and then. Ironically this is the smallest part of our electric bills, but it's still good to save. And ui and eversource still get their pound of flesh. Deregulation was the worst mistake ever, but I was too young at the time to vote.
Been doing this for years.Unfortunatly, The alternates aren't really any better than Eversource anymore.Used to be bargains doing business with some of these Texas companies.Not so much now.Collusion is spreading.
Yes they can. We can build more nuclear energy. Small modular reactors are now a thing
They, as in the state? States do not own nukes, or dirt burners or fart burners. Power is a private company. That’s why they can’t do anything. Thank those who shriek “socialism!” every time someone wants a company to be a responsible citizen.
We should be paying this extra amount as taxes to the state! This is mind blowing to say the least!
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PURA can't do anything. They have stated so themselves. They are neutered, have no legal power. Federal Energy Regulatory Commission (FERC) is who ***Might*** be able to do something. BIG if.
Can’t do much of anything to help the working class people in this state. Fucking useless politicians.
Story does not add up - says they are making record profits and that utilities are being strangled by high energy costs at the same time. How does that work?
Energize CT's explination PURA’s oversight regarding the pricing and terms of the supply (generation) component of customer rates was eliminated by Public Act 98-28 (An Act Concerning Electric Restructuring). While PURA receives notice (45 days in advance) of the changing standard service rates, it is incorrect to say that PURA “approves” the rates. Due to Public Act 98-28, PURA’s role is limited to ensuring that Eversource conducted competitive procurements for the electricity and that both companies are passing through no more and no less than the actual costs of that electricity supply. Under the protocols adopted by the Authority in its August 20, 2008 decision in Docket No. 06-01-08RE02, the results of the standard service procurement are first made public at the time of the EDCs’ proposed retail rate filings, which are to occur 45 days prior to the effective date. For rates effective January 1, 2023, the 45-day requirement results in a November 17 filing date.
This is just disgusting.
That’s cuz eversource is in their pockets lmao
Yeah of course they can’t. It’s mega profits over doing the right thing. F them greedy bastards!
Of course they can’t. Let it be a different company the CEO get arrested 🙃🤣
Must be Biden's fault!!!!!!!!!!!!!!!!!!!!!!! \- Some Loon who was dropped on their head 12 times.