Connecticut's State Department of Public Utility Control truly amazes me. Whatever any utility wants in the state gets from this supposed balanced commission. With yesterdays United Illuminating ruling of an incredible 50% increase in rates, we can see from an economic point of view that Connecticut will be going into an energy induced recession from this ruling. The comedy of the whole situation is that Connecticut's do nothing legislature has help create this mess by forcing both UI and Northeast Utilities out of the generating business for electricity. Thus by buying electricity on the open market, this deregulation has forced prices through the roof. It has not have the intended impact of our feel good legislature thought it would have. I give UI credit for its total disregard for its customers by asking for and receiving this astronomical increase. I am sure that UI's management staff will receive its annual performance bonuses, stock options and the like.
Thus Connecticut will be going into an energy induced recession. The blame for it can be equally shared by the electric companies, the Connecticut Legislature and last but not least the Connecticut DPUC. Consumers will be doing without to pay for their incredibly high electric bills, businesses will be moving out of our state due to high electric costs and sadly the same stale politicians in Hartford who supposedly represent us will be back yet again in 2008 saying what a great job they did.
I just hope that the last person who leaves Connecticut will turn out the lights once and for all.
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1 comment:
No one will have to turn the lights out Bob, the producers will do that for us. We won't be able to afford it!!
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