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: 5
- Public Service seeks rate hike; blames energy costs - 4
- NRC to address concrete degradation at Seabrook nuclear plant - 0
- Maine environmental groups clash over wind power - 0
- 2008 ice storm left thousands powerless, changed the way NH prepares - 1
- Council considers attorney to serve on PUC - 0
- Warner officials research solar energy project - 0
- $22.3m approved for MTBE assessment plan - 1
- 11th-hour deal in Seabrook Station labor battle - 1
- Seabrook Station labor lockout would draw NRC presence - 5
READER COMMENTS: 0
- Manchester's O'Neill, Lebanon's Morrill form UNH's 'Granite Wall' - 0
- Stretch of I-293 North and South closed after propane tank crashes - 1
- $13m contract recommended for next phase of Nashua parkway - 0
- Couple charged in connection with Exeter burglaries - 0
- Proposed article sets rules for use of temporary signs - 0
- Newsreel: State unemployment stable; Gates Foundation CEO named; generic Viagra out soon - 0
- Leclerc takes second place in men's hockey - 0
- Trinity-Central game pushed to tonight - 0
- Derryfield's Hyde, Faulkner star in ski relays - 0
Shaheen, Ayotte split on House budget plan