Eversource Energy Revenue 2010-2022 | ES

Submitted by issuesintherapy t3_z24vlq in Connecticut

Since there has been a lot of discussion about Eversource raising their rates, I thought I'd share this. Came across it while I was finding info to include in my email to Gov. Lamont about this issue. Check out their revenue increases over the past few years.

https://www.macrotrends.net/stocks/charts/ES/eversource-energy/revenue

Also, here's the link to email the Gov. Still have to get to the other elected representatives:

https://portal.ct.gov/Office-of-the-Governor/Contact/Email-Governor-Lamont

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Comments

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wwdan t1_ixeokam wrote

Economics.. revenue is useless.

Net income.

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SaddenedBKSticks t1_ixezd3b wrote

If you go to the link, it still shows a net income increase as well. Says a 17.34% increase since 2021 in September, a 53% increase between September 2019 and September 2022.

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dicksmcgee420 t1_ixey090 wrote

The governor and the Attorney General have both stated that there’s nothing they can do

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eddie964 t1_ixf5li0 wrote

There isn't. There are plenty of reasons to be mad at Eversource. This is not one of them.

They are basically bill collectors for power generating companies when it comes to the supply rate. They procure power from third parties for customers, and charge customers what they pay, with no markup (as they are required to do by law)

Every penny of the supply rate goes to generation companies like PSEG and Emera. Those are the companies making money off of the supply rate increase, not Eversource and UI. It is disgusting that they are not catching the blame for it.

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dicksmcgee420 t1_ixf5xp9 wrote

I’m thinking eversource is doing just fine.

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eddie964 t1_ixf6eon wrote

They are doing just fine. Like I said, there are plenty of reasons to be angry at them. This is not one of them. They are literally just doing what the law requires them to do: buy energy at wholesale prices, and sell it to customers at the same price they pay.

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dicksmcgee420 t1_ixf6qdt wrote

I hear you it just irks me that this is the way it is currently

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eddie964 t1_ixf7bqw wrote

Like I said, if you're looking for someone to be mad at about the supply rate hike, I would look at the owners of the gas generation plants, who make a profit off of the high prices.

I would also look at the politicians who helped block gas transmission line expansions, which is one big reason Connecticut's gas prices are higher than other states'.

I would also lay some of the blame at the feet of the last administration, which held up development of offshore wind facilities that would have reduced our reliance on natural gas.

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dicksmcgee420 t1_ixf9m5z wrote

I agree with you on all those points but if it’s ok with you I’m gonna still not like eversource

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eddie964 t1_ixfa2hn wrote

LOL. I don't love 'em, either, as a customer. But I used to work in the business, so I know where the money goes.

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issuesintherapy OP t1_ixf9dds wrote

I'm happy to complain to whoever else has the power to make changes, but I also always feel it doesn't hurt to let our elected reps know that we're not happy. (I also let them know when I think they're doing something right.)

Besides, I'm never entirely convinced that there's nothing elected representatives can do. Perhaps they can't do much about this particular situation, but there is the ability to make or change laws and regulations and to have oversight of companies. I always feel it's better to speak up than not to.

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