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Author Topic: Superstorm Aftermath: 300M bill for PSE&G ratepayers Back to Topics
Joeski1
Champion Author
New Jersey

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Message Posted: Dec 5, 2012 8:29:12 AM

NEW YORK — Public Service Electric and Gas is estimating the cost of restoring power after Superstorm Sandy and a subsequent nor’easter at between $250 million and $300 million.

The vast majority of that cost will almost certainly be borne by the utility’s customers in the form of higher rates in future years.
PSE&G, New Jersey’s largest utility, says 1.7 million of its electric customers were without power during the course of the storm — the most in the utility’s history.
The storm also caused severe damage to its infrastructure. The Newark company, a unit of Public Service Enterprise Group Inc., or PSEG, says it had to replace 1,000 transformers after the storm. Its crews are still working to repair its system.
The utility will ask regulators for permission to recover restoration
Visit AP // Courier-Post Online for full article
REPLIES (newest first) Post a Reply
DanMtz
Champion Author Oakland

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Message Posted: Dec 6, 2012 7:53:52 PM

In the grand scheme of things, $300 million is not that big a deal.
eschroth442
Champion Author Cleveland

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Message Posted: Dec 6, 2012 10:19:12 AM

the customers deserve a credit for the losses due to being without power.The sump pumps that couldn't function and let basements flood
iFueler
Champion Author Durham

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Message Posted: Dec 6, 2012 1:52:13 AM

hopefully the restoration will be more storm proof
PDQBlues
Champion Author San Diego

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Message Posted: Dec 5, 2012 11:16:23 PM


Until the US gets serious about dealing with global warming that dramatically changes the climate, we can expect more storms like Hurricane Sandy to come more frequently.
bwatchingu
Champion Author Arkansas

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Message Posted: Dec 5, 2012 6:03:30 PM

Rockyguitar,liked your comment
MrLefty0706
Champion Author Chicago

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Message Posted: Dec 5, 2012 4:13:06 PM

They should already have priced some of the catastrophe losses in their rates. But they will undoubtedly try to raise rates to cover the entire cost.
crep1291
Champion Author Ottawa

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Message Posted: Dec 5, 2012 2:17:59 PM

Hopefully they will rebuild the network a bit more robust.
mfgendron
Champion Author New York

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Message Posted: Dec 5, 2012 1:39:01 PM

headache.
LostInNY
Champion Author New York

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Message Posted: Dec 5, 2012 1:35:47 PM

That's why ratepayers=insurance policy for utilities. There must be some way that cost is carried by the utility and not the ratepayer.
Sneakers55
Champion Author Houston

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Message Posted: Dec 5, 2012 1:18:11 PM

Only 300 million? The damage to the grid because of Hurricane Ike in 2008 was over 650 million in the CenterPoint service area alone!
Dr Gas
Champion Author Twin Cities

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Message Posted: Dec 5, 2012 12:21:35 PM

Rockguitar -
That is priceless !!!!!!

Typical - if it doesn't effect "that group" it's not important !
ErnieK9LO
Champion Author North Dakota

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Message Posted: Dec 5, 2012 11:28:40 AM

The price would not be that high if the grid would have been kept up with.
Rockyguitar
Champion Author Tampa

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Message Posted: Dec 5, 2012 10:43:04 AM

Where's the celebrity shouting, "Obama hates white people!"???????????
TripleHs
Champion Author Austin

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Message Posted: Dec 5, 2012 10:22:01 AM

part of cost living there
gbs1
Champion Author Minnesota

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Message Posted: Dec 5, 2012 10:10:28 AM

If they don't get a federal government bailout
Buckeyee
Champion Author Maine

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Message Posted: Dec 5, 2012 10:08:43 AM

Sounds like someone is expect billions in "free Obama dollars " at no cost to you !!
bar1035
Champion Author Charlotte

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Message Posted: Dec 5, 2012 10:04:39 AM

On the flip side I think a lot of people didn't use any power for quite a while so that should help the pocketbook
MrDeath666
Champion Author Houston

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Message Posted: Dec 5, 2012 9:48:41 AM

Of course the customers should pay that bill.
LilRedWagonIN
Champion Author Indiana

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Message Posted: Dec 5, 2012 9:42:51 AM

somebody's got to pay for it.
angel4me
Champion Author San Jose

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Message Posted: Dec 5, 2012 9:42:33 AM

expected billions.....
Mark8601
Champion Author Bakersfield

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Message Posted: Dec 5, 2012 9:24:22 AM

money, money,money!
fora_7
Champion Author Montreal

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Message Posted: Dec 5, 2012 9:23:20 AM

Yeah, who will pay??
Evilmaddog
Champion Author British Columbia

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Message Posted: Dec 5, 2012 9:06:02 AM

Excellent, said Mr. Burns! .....funny and true
RitaVespa
Champion Author Oregon

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Message Posted: Dec 5, 2012 8:58:57 AM

Ouch!
fjkcpa
Champion Author Houston

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Message Posted: Dec 5, 2012 8:57:45 AM

It's always something...
roadrunnerMO
Champion Author Kansas

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Message Posted: Dec 5, 2012 8:51:02 AM

Certainly the customers will pay as it is the cost of doing business for the utilities.
cdrrod
Champion Author Wisconsin

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Message Posted: Dec 5, 2012 8:47:47 AM

Somebody is going to pay!
rbrk02
Champion Author Rhode Island

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Message Posted: Dec 5, 2012 8:41:57 AM

No doubt that bills will increase.

amoshins, well reasoned and stated comment.
7SPEEDY7
Champion Author Flint

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Message Posted: Dec 5, 2012 8:40:10 AM

Crazy!!
HoosierDaddyKY
Champion Author Kentucky

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Message Posted: Dec 5, 2012 8:38:21 AM

Excellent, said Mr. Burns!
Eagle3236
Champion Author Missouri

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Message Posted: Dec 5, 2012 8:37:50 AM

Yes, it looks like those customers will be paying higher bills. I am sure they are glad to have electricity again. Praying for all those affected by the storm.
amoshins
Champion Author Trenton

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Message Posted: Dec 5, 2012 8:35:42 AM

So if PSE&G can recover 85% of its costs (assuming this is without rate increases), then they should be allowed rate hikes to cover only 15% of them minus the penalties incurred by taking too long to restore power to some folks.

Also, I want a refund from PSE&G for the time I was without electric & gas...It's only fair if they are looking to increase rates to recover restoration costs.
Joeski1
Champion Author New Jersey

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Message Posted: Dec 5, 2012 8:30:24 AM

Look out!!

That bill is coming!!

Gotta have it all ready for the next big one!!
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