[deleted] OP t1_jc7udpl wrote
Reply to comment by No_Landscape4557 in Maine Affordable Energy is CMP by [deleted]
https://www.avangrid.com/investors/investors/secfilings. Totally agree; unless they are stating something incorrect on their regulated documents. 2755 in millions is billions yeah? (not sarcastic but serious) I doubled checked a bunch since it seems crazy. 1,120 for distribution, 1,520 for transporting, 82 for their gas arm. It states all are millions.
6B4C8C8 t1_jc81inr wrote
I think you're confusing Rate Base with profit. There's a footnote defining Rate Base. It's not a revenue or profit figure.
"“Rate base” means the net assets upon which a utility can receive a specified return, based on the carrying value of such assets. The rate base is set by the relevant regulatory authority and typically represents the value of specified property, such as plants, facilities and other investments of the utility. These rate base values have been calculated using the best estimates as of December 31, 2022. "
SplinterLips t1_jc82ziv wrote
Weird, so according to this SEC filing their assets in Maine are assessed at 2.7 billion. I wonder how CMP rounds it up to 13.5 billion in all of their commercials.
6B4C8C8 t1_jc84em6 wrote
The assets in the rate base are depreciated, so fair market value could be higher than that. Also we don't know what is and isnt included in rate base asset. Does it include their office buildings? Trucks? I honestly have no idea, but I'd imagine it's less than the total FMV of CMPs assets. The maine utility regulator might have a more detailed breakdown.
That said I doubt there's anything stopping CMP from inflating the number to 13.5bn in the commercial. So your answer is really it'll cost likely more than 2.7bn, but less than 13.5bn.
6byfour t1_jc9ydrt wrote
Put it up for sale and see if it goes for 2.7
No_Landscape4557 t1_jc7wc63 wrote
That is the profits for AVANGRID as a whole again not CMP, I didn’t see anything that obviously broke down which one of their companies earned what. It is actually quite lacking and seems to not directly state
[deleted] OP t1_jc7x1ni wrote
Nope, did you actually open the 10-K? they literally break it down into CMP dist, CMP trans, and Gas (not CMP).
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No_Landscape4557 t1_jc816of wrote
I saw. It states the page 9 something about CMP rate of 2.6 billion but doesn’t anywhere as far as I could easily tell break down what of that is profit. Because again that be thousands of dollars per person every year
Crujiente_Squ t1_jc90rud wrote
Regardless of whichever numbers are correct, no one seems to be taking commercial, industrial, and other non-residential ratepayers into account in their comments. It's not just households.
6byfour t1_jc9yxng wrote
“Rate base” and “profit” are not the same.
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