Comments
dirtiestofbuttholes t1_iyeejev wrote
I see these posts stating “the reality” and supporting eversource. The reality is I think you commenters are astroturfing and prolly eversource paid people.
The reality is that eversource is profiting obscene amounts regardless of this recent price hike.
The reality is that eversource increases their prices twice a year every year.
The reality is there profits are increasing, not staying the same or going down.
The reality is that connecticut residents are getting fucked on the cost of electricity compared to the rest of the country.
So what can they do? They can stop price hikes, and they could choose to cover these increased costs and keep the price of electricity the same. That would mean they make less profits than they’re used to. But they won’t do that of course.
So yes, fuck eversource is truly our reality here
Momofthehouse- t1_iyey33g wrote
Buttholes throwing out facts
john46ct OP t1_iyd1em7 wrote
we (the state) regulates a number of things with bipartisan bodies and resources. For utilities we have PURA and a consumer council who are strictly gubernatorial appointees (one party appointees) and there are only 3 PURA commissioners and 1 consumer council
G3Saint t1_iyd3qtd wrote
CT State government does not regulate private generation. The energy supply market was deregulated in the late 90s by theState Republican administration. One thing Lamont could of done was push for natural gas pipeline expansion and get approval for the Killingly gas plant. Both of those would of mitigated the jump in generation costs we have today.
[deleted] t1_iyd89u3 wrote
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UnfairAd7220 t1_iydp56x wrote
Cork the Iroquois line to Long Island and use that gas in Mystic.
Seeing that NY state won't let any more pipelines cross 'their ' state to make gas available to all of New England, it seems they should be the ones who are on the hot seat, not us.
john46ct OP t1_iyd4pjm wrote
Agreed
virtualchoirboy t1_iyd6bo9 wrote
First, let me be clear... I hate Eversource just as much as anyone else here. That being said, I also think people need to understand what drives the prices they pay.
So let me put my initial point another way - if the cost of fuel for the generation plants is more than Eversource can recoup in generation rate charges, state law allows them to increase the rate so that they're not losing money on generating electricity. It's fairly straight forward and is what this latest rate increase is all about.
A large portion of the generation plants use natural gas. At the start of the year, gas prices were around $15-$16 per thousand cubic feet. In August, that price had risen to $31-$32.
Instead of trying to block a rate increase to cover the cost of generating the electricity we are using, we should be looking at either pushing for public ownership of the utilities or capping the profit that can be made with anything in excess of that amount going back to the consumers.
littlerob904 t1_iydyehc wrote
Just to add a little clarification here. When the energy markets were deregulated, Eversource (then Northeast Utilities as a delivery company) was separated from any generation assets they owned. The generation rate paid on your eversource bill is a direct result of Eversource going out on the wholesale market and "buying" power from generators and then passing the cost on to the users. Eversource delivers you the electricity, they don't generate it. They do this through negotiating different contracts with different supply companies. This winter the massive increase in natural gas and fossil fuel prices is what's driving the increase in electricity generation. It pretty much happens every winter, although its happening on a much larger scale now.
If we want to solve this as a state, we badly need shift away from our huge reliance on natural gas which is somewhere around 55% of our current supply. The ONLY way to do this in a cost effective manner is to bring more nuclear online in CT. Less gas going to electricity generation will also have the dual effect of lowering home heating costs for gas users.
More renewables can help in the long run, and should be a bigger part of the diversification as well, but you can't solve this problem without nuclear.
[deleted] t1_iyea9lm wrote
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john46ct OP t1_iyd7s21 wrote
Much agreed - look at wallingford
hard-time-on-planet t1_iydsswv wrote
Wallingford does have a better reputation for having lower delivery charges but I would expect when they announce 2023 generation rates there's will be higher too.
Old article but relevant quote:
> The town operated its own power plant at one time.
> Today, it buys electricity on the market. So, Hendershot said it does share some of the same cost concerns as Eversource
dirtiestofbuttholes t1_iyeeabj wrote
Who the fuck built this garbage ass flyer. This is why the common man loses every time
Lilcoqui17 t1_iyf15az wrote
Me, I don’t have a computer. I used my phone and I suck. If you make a new one, I’m happy to repost it.
phutch54 t1_iyddvy6 wrote
Why should they bite the hand that feeds them?Not going to happen.A 40% rate hike will kill people and they DON'T CARE!
blakeusa25 t1_iye6i43 wrote
Market cap of Eversource is 28B.
Can't a few state funds get together and take this pig private or state owned.
Hot-Cry920 t1_iye7bhz wrote
Eversource doesnt generate energy…. Your blaming the wrong company. Blame your democrat politicians that block NG infrastructure
john46ct OP t1_iyd53a5 wrote
I should have added that we have one of the highest delivery rates in the country - and that’s where PURA and OCC come in
[deleted] t1_iyd55yx wrote
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john46ct OP t1_iyd5jir wrote
No - I am adding information on who can make a difference in delivery charges - and awareness
virtualchoirboy t1_iyd0rn3 wrote
Laudable effort but most of this latest increase is due to the increase in the fuel they use to power the generator plants and because of how the state laws are structured, PURA could never stop them. The latest hike is an increase in generation rate. Don't want to pay the new generation rate? Find an alternate provider that has a better rate. I got lucky and locked in with Direct Energy last year for 33 months at 10.19 c/kWh. I have 21 months left at that rate.
Now, if they were increasing the delivery charges, that would be something that can and should be fought. The charges levied by Eversource are rapacious and, for most people, make up the majority of their bill.