I chose the Energy and Utilities board,and we say that they should be made responsible to review the "GAS AND OIL PRICE FIXING BUNCH"
This article was copied from the canadian press,the same place Canada East copied it from.
Customers to see lower bills as 5.9 per cent power rate hike approved in N.B. 12 hours ago
FREDERICTON - New Brunswick's Energy and Utilities Board has approved an average 5.9 per cent power rate increase, but most residential customers and small businesses can actually expect a drop in their monthly bill.
The decision, issued Friday, affects NB Power rates for the 2007-2008 fiscal year, and is lower than interim rates approved last year, affecting all customer rate classes.
Since the price adjustment is retroactive, customers will receive a small rebate for the difference between the new rate and the interim rates, and have slightly lower bills going forward.
"I'm very pleased the board reduced the rate," said Daniel Theriault, the public intervenor. "Any reduction is good for the ratepayers."
NB Power was granted an interim increase of 9.6 per cent in June of last year, but was then ordered to lower that rate to 6.4 in August.
With the new rate in place, the provincially owned company estimates the average customer will receive a rebate of about $14.
NB Power originally sought a 9.6 per cent increase last April, but lowered its request in August after reaching a $338-million settlement in a lawsuit over a failed deal to buy Orimulsion fuel from Venezuela.
The latest increase has been set at 5.9 per cent for virtually all NB Power customers including residential, small industrial and wholesale, but there are two exceptions.
Large industries face an increase of 6.9 per cent, while hospitals, schools and stores that don't heat with electricity get a break, with their increase at four per cent.
In its decision, the board explains that the different rates will gradually eliminate cross-subsidization that now occurs, and ensure customers in each class are paying their fair share.
Darren Murphy, NB Power's vice-president of customer services, said the company respected the process and was pleased the board acknowledged that costs were being controlled.
"Generally the EUB has accepted the application as presented, and the main difference that the EUB has identified is a financial break-even point, which they've identified being lower than what was presented by NB Power," he said.
Energy Minister Jack Keir that he needed time to review the rate decision, but added the board has used good logic in its past rulings.
The provincial cabinet could overrule the decision, but has just 30 days to do so.
The utility can seek its next increase as of April 1, and only requires hearings before the board if that request is for more than three per cent.
Both NB Power president David Hay and Premier Shawn Graham have publicly stated they don't expect to exceed three per cent per year between now and 2010, unless there are unforeseen circumstances.
The public intervenor said if there are no hearings, there should be other ways to ensure the utility is accountable and that rates are justified.
"I think a regular review of NB Power's procedures is good - it's good for the public, it's good for NB Power," Theriault said. "But to allow them to increase by three per cent each and every year could mean over the next two years an additional six per cent."
2 comments:
I chose the Energy and Utilities board,and we say that they should be made responsible to review the
"GAS AND OIL PRICE FIXING BUNCH"
This article was copied from the canadian press,the same place Canada East copied it from.
Customers to see lower bills as 5.9 per cent power rate hike approved in N.B.
12 hours ago
FREDERICTON - New Brunswick's Energy and Utilities Board has approved an average 5.9 per cent power rate increase, but most residential customers and small businesses can actually expect a drop in their monthly bill.
The decision, issued Friday, affects NB Power rates for the 2007-2008 fiscal year, and is lower than interim rates approved last year, affecting all customer rate classes.
Since the price adjustment is retroactive, customers will receive a small rebate for the difference between the new rate and the interim rates, and have slightly lower bills going forward.
"I'm very pleased the board reduced the rate," said Daniel Theriault, the public intervenor. "Any reduction is good for the ratepayers."
NB Power was granted an interim increase of 9.6 per cent in June of last year, but was then ordered to lower that rate to 6.4 in August.
With the new rate in place, the provincially owned company estimates the average customer will receive a rebate of about $14.
NB Power originally sought a 9.6 per cent increase last April, but lowered its request in August after reaching a $338-million settlement in a lawsuit over a failed deal to buy Orimulsion fuel from Venezuela.
The latest increase has been set at 5.9 per cent for virtually all NB Power customers including residential, small industrial and wholesale, but there are two exceptions.
Large industries face an increase of 6.9 per cent, while hospitals, schools and stores that don't heat with electricity get a break, with their increase at four per cent.
In its decision, the board explains that the different rates will gradually eliminate cross-subsidization that now occurs, and ensure customers in each class are paying their fair share.
Darren Murphy, NB Power's vice-president of customer services, said the company respected the process and was pleased the board acknowledged that costs were being controlled.
"Generally the EUB has accepted the application as presented, and the main difference that the EUB has identified is a financial break-even point, which they've identified being lower than what was presented by NB Power," he said.
Energy Minister Jack Keir that he needed time to review the rate decision, but added the board has used good logic in its past rulings.
The provincial cabinet could overrule the decision, but has just 30 days to do so.
The utility can seek its next increase as of April 1, and only requires hearings before the board if that request is for more than three per cent.
Both NB Power president David Hay and Premier Shawn Graham have publicly stated they don't expect to exceed three per cent per year between now and 2010, unless there are unforeseen circumstances.
The public intervenor said if there are no hearings, there should be other ways to ensure the utility is accountable and that rates are justified.
"I think a regular review of NB Power's procedures is good - it's good for the public, it's good for NB Power," Theriault said. "But to allow them to increase by three per cent each and every year could mean over the next two years an additional six per cent."
Charles,
People come on the air with Larry king to go over what they've been trying to publicize. He serves no investigative purpose.
As far as NB Power goes, what the hell are they doing about the dam? That thing is a new 9/11 waiting to happen all over again.
Then they'll pour their jackbooted thugs into the fray in the guise of "emergency efforts".
Post a Comment