Electricity costs to rise an extra 6 to 10 percent (click here)
Central Hudson Blames Feds, State for Power Price Hike
March 1, 2014
Come May, Electricity will cost between 6 percent to 10 percent more than it would otherwise, say Central Hudson Corp. Executives. But, they say don't blame them or the new owner, Fortis, Inc.
It called the "New Capacity Zone," a plan by Federal and State Agencies to raise the cost or power supply that customers pay in order to incentivize generating companies to build more power plants in southeastern New York....
There is only ONE REASON why this change in ownership is taking place with a Canadian company; it is because Fortis, Inc. is unregulated and Central Hudson Corp. is regulated until 2015. This is exploitation of consumers that have already sustained a price increase.
This is outrageous!
What does Cuomo think he is doing to people?
Fortis isn't a public utility. It is Wall Street.
Central Hudson Blames Feds, State for Power Price Hike
March 1, 2014
Come May, Electricity will cost between 6 percent to 10 percent more than it would otherwise, say Central Hudson Corp. Executives. But, they say don't blame them or the new owner, Fortis, Inc.
It called the "New Capacity Zone," a plan by Federal and State Agencies to raise the cost or power supply that customers pay in order to incentivize generating companies to build more power plants in southeastern New York....
There is only ONE REASON why this change in ownership is taking place with a Canadian company; it is because Fortis, Inc. is unregulated and Central Hudson Corp. is regulated until 2015. This is exploitation of consumers that have already sustained a price increase.
This is outrageous!
What does Cuomo think he is doing to people?
Fortis (click here) achieved earnings to common shareholders of $353 million in 2013 up from $315 million in 2012
Cuomo is all in with private industry, isn't he? Schools and now utilities, who does he think is ultimately going to live in Poughkeepsie a community of oil sheiks?
The utilities were supposed to be fixed until 2015. Now, in a short period of time they have sustained utility increases twice. 10 percent? You've got to be joking. People will lose their homes. Where is that money coming from in this Middle Class city? What does that do to the rest of the New York State and USA economy if the electricity is more expensive and going to a Canadian company?
Cuomo is nuts to go along with this mess.
Whatever happened to freezing rate for another two years?
Updated Jun 13th 2013 3:25PM ...The Acquisition (click here) provides Central Hudson customers with nearly US$50 million in financial benefits to moderate future delivery rates, enhance economic development programs in the areas serviced by Central Hudson and provide further assistance to low-income families in the service area. Delivery rates will be frozen for an additional two years, effectively holding rates constant for the three-year period from July 2012 through June 2015. All employees of Central Hudson will retain their jobs for at least four years and an additional 35 union positions will be created. Central Hudson will operate as a standalone company, its current level of community support will be guaranteed for at least 10 years and a new board of directors will have increased local representation....
Cuomo is all in with private industry, isn't he? Schools and now utilities, who does he think is ultimately going to live in Poughkeepsie a community of oil sheiks?
The utilities were supposed to be fixed until 2015. Now, in a short period of time they have sustained utility increases twice. 10 percent? You've got to be joking. People will lose their homes. Where is that money coming from in this Middle Class city? What does that do to the rest of the New York State and USA economy if the electricity is more expensive and going to a Canadian company?
Cuomo is nuts to go along with this mess.
Whatever happened to freezing rate for another two years?
Updated Jun 13th 2013 3:25PM ...The Acquisition (click here) provides Central Hudson customers with nearly US$50 million in financial benefits to moderate future delivery rates, enhance economic development programs in the areas serviced by Central Hudson and provide further assistance to low-income families in the service area. Delivery rates will be frozen for an additional two years, effectively holding rates constant for the three-year period from July 2012 through June 2015. All employees of Central Hudson will retain their jobs for at least four years and an additional 35 union positions will be created. Central Hudson will operate as a standalone company, its current level of community support will be guaranteed for at least 10 years and a new board of directors will have increased local representation....
