Utilities, like governments, are monolithic edifices upon which waves of populist “outrage” love to crash. These sinister cabals exist to better themselves at our expense. They live to serve only themselves. And while that is always true of governments and perhaps Comcast, Eversource has done something to if not break then at least fissure the perception of their corporate indifference to the ills of the common man.
They are telling the State legislature (again), which ordered them to screw their customers over, to go pound sand.
They don’t want to force their ratepayers to pay more than market rates for power. So, Eversource is using the issue to stand up for folks about whom the people who supported this bill claim to care.
At its core, the veto override of SB365 is sold as helping people. To do that legislators commanded companies like Eversource to suck over 20 million dollars a year out of every pocket in the state.
In 2018, the average wholesale price for electricity in New Hampshire was approximately $42 per megawatt, while SB 365 would require Eversource to pay $77 per megawatt and pass the difference onto its ratepayers.
That could result in $11 million in over-market prices to Eversource customers in the first six months of the program, according to the utility.
Utility rates like sales taxes, gas taxes, and tobacco taxes, are regressive. They punish the (to borrow a phrase) most vulnerable – all for a hefty annual sacrifice on the Climate Cult’s altar. A move that, believe it or not, at least one high-Priest of the cult opposes.
What if This was to Save Jobs at Comcast?
Contrary to our State constitution the Legislature expects Eversource to screw everyone and redistribute that wealth to a tiny sliver of the workforce whose product can’t compete. But imagine if SB365 sucked 20 million a year from residents to ensure that Comcast could save 1000 jobs.
No one would make excuses for that. But the math is the same. You can’t “save” jobs in one sector without destroying them someplace else and screwing everyone else in the process.
Eversource, to their credit, has refused to throw ratepayers hard earned dollars on the wood burning fire. And New Hampshire’s State Utilities Regulator won’t force the issue. The PUC says it has no authority to make them do it.
In its recent order, the PUC says it can only act on agreements between Eversource and the power plants, and the two sides have not been able to reach any agreement.
“Accordingly, we are not able to act until Eversource selects proposals from (the power plants) and submits them to the commission for review.”
All Eversource has to do is decide it will not screw ratepayers until a lawsuit works its way through the courts. A taking the NH AG has said they will defend.
How will it end? I never expect these things to end well. But two things have happened that I never predicted. A monolithic edifice told the State Legislature to go screw and an unelected board said it can’t make them pilfer the populace.
At this point, almost anything is possible.