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Author	Topic: Superstorm Aftermath: 300M bill for PSE&G ratepayers	Post a Reply Back to Topics

Joeski1 Champion Author New Jersey Posts:10,210 Points:1,769,535 Joined:Dec 2004	Message Posted: Dec 5, 2012 8:29:12 AM Ignore Joeski1 Report Abuse 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

Joeski1

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

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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)Ignore Short Messages

DanMtz Champion Author Oakland Posts:3,496 Points:1,271,125 Joined:Oct 2009	Message Posted: Dec 6, 2012 7:53:52 PM Ignore DanMtz Report Abuse In the grand scheme of things, $300 million is not that big a deal.
eschroth442 Champion Author Cleveland Posts:1,196 Points:358,490 Joined:Nov 2011	Message Posted: Dec 6, 2012 10:19:12 AM Ignore eschroth442 Report Abuse 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 Posts:65,033 Points:206,000 Joined:Nov 2012	Message Posted: Dec 6, 2012 1:52:13 AM Ignore iFueler Report Abuse hopefully the restoration will be more storm proof
PDQBlues Champion Author San Diego Posts:7,214 Points:1,476,025 Joined:Jan 2009	Message Posted: Dec 5, 2012 11:16:23 PM Ignore PDQBlues Report Abuse 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 Posts:1,859 Points:627,925 Joined:Jan 2009	Message Posted: Dec 5, 2012 6:03:30 PM Ignore bwatchingu Report Abuse Rockyguitar,liked your comment
MrLefty0706 Champion Author Chicago Posts:1,580 Points:378,560 Joined:Apr 2012	Message Posted: Dec 5, 2012 4:13:06 PM Ignore MrLefty0706 Report Abuse 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 Posts:2,637 Points:486,190 Joined:Dec 2010	Message Posted: Dec 5, 2012 2:17:59 PM Ignore crep1291 Report Abuse Hopefully they will rebuild the network a bit more robust.
mfgendron All-Star Author New York Posts:750 Points:323,605 Joined:Sep 2008	Message Posted: Dec 5, 2012 1:39:01 PM Ignore mfgendron Report Abuse headache.
LostInNY Champion Author New York Posts:1,859 Points:675,520 Joined:Apr 2011	Message Posted: Dec 5, 2012 1:35:47 PM Ignore LostInNY Report Abuse 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 Posts:51,850 Points:2,168,625 Joined:Nov 2005	Message Posted: Dec 5, 2012 1:18:11 PM Ignore Sneakers55 Report Abuse 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 Posts:3,286 Points:360,350 Joined:May 2004	Message Posted: Dec 5, 2012 12:21:35 PM Ignore Dr Gas Report Abuse Rockguitar - That is priceless !!!!!! Typical - if it doesn't effect "that group" it's not important !
ErnieK9LO Champion Author North Dakota Posts:2,811 Points:568,530 Joined:Nov 2010	Message Posted: Dec 5, 2012 11:28:40 AM Ignore ErnieK9LO Report Abuse The price would not be that high if the grid would have been kept up with.
Rockyguitar Champion Author Tampa Posts:2,693 Points:1,228,320 Joined:Sep 2008	Message Posted: Dec 5, 2012 10:43:04 AM Ignore Rockyguitar Report Abuse Where's the celebrity shouting, "Obama hates white people!"???????????
TripleHs Champion Author Austin Posts:3,440 Points:941,065 Joined:Oct 2009	Message Posted: Dec 5, 2012 10:22:01 AM Ignore TripleHs Report Abuse part of cost living there
gbs1 Champion Author Minnesota Posts:2,136 Points:770,075 Joined:Mar 2011	Message Posted: Dec 5, 2012 10:10:28 AM Ignore gbs1 Report Abuse If they don't get a federal government bailout
Buckeyee Champion Author Maine Posts:4,772 Points:924,325 Joined:May 2010	Message Posted: Dec 5, 2012 10:08:43 AM Ignore Buckeyee Report Abuse Sounds like someone is expect billions in "free Obama dollars " at no cost to you !!
bar1035 Champion Author Charlotte Posts:9,343 Points:1,325,920 Joined:Aug 2006	Message Posted: Dec 5, 2012 10:04:39 AM Ignore bar1035 Report Abuse 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 Posts:1,765 Points:271,890 Joined:Sep 2012	Message Posted: Dec 5, 2012 9:48:41 AM Ignore MrDeath666 Report Abuse Of course the customers should pay that bill.
LilRedWagonIN Champion Author Indiana Posts:7,912 Points:1,581,110 Joined:Oct 2008	Message Posted: Dec 5, 2012 9:42:51 AM Ignore LilRedWagonIN Report Abuse somebody's got to pay for it.
angel4me Champion Author San Jose Posts:2,814 Points:802,645 Joined:Dec 2010	Message Posted: Dec 5, 2012 9:42:33 AM Ignore angel4me Report Abuse expected billions.....
Mark8601 All-Star Author Bakersfield Posts:929 Points:397,035 Joined:Dec 2011	Message Posted: Dec 5, 2012 9:24:22 AM Ignore Mark8601 Report Abuse money, money,money!
fora_7 All-Star Author Montreal Posts:995 Points:233,825 Joined:Sep 2012	Message Posted: Dec 5, 2012 9:23:20 AM Ignore fora_7 Report Abuse Yeah, who will pay??
Evilmaddog Champion Author British Columbia Posts:3,466 Points:985,250 Joined:Aug 2010	Message Posted: Dec 5, 2012 9:06:02 AM Ignore Evilmaddog Report Abuse Excellent, said Mr. Burns! .....funny and true
RitaVespa Champion Author Oregon Posts:3,109 Points:819,820 Joined:Jan 2011	Message Posted: Dec 5, 2012 8:58:57 AM Ignore RitaVespa Report Abuse Ouch!
fjkcpa Champion Author Houston Posts:4,761 Points:629,160 Joined:Nov 2005	Message Posted: Dec 5, 2012 8:57:45 AM Ignore fjkcpa Report Abuse It's always something...
roadrunnerMO Champion Author Kansas Posts:8,547 Points:1,727,165 Joined:Jul 2008	Message Posted: Dec 5, 2012 8:51:02 AM Ignore roadrunnerMO Report Abuse Certainly the customers will pay as it is the cost of doing business for the utilities.
cdrrod Champion Author Wisconsin Posts:4,291 Points:810,500 Joined:Feb 2006	Message Posted: Dec 5, 2012 8:47:47 AM Ignore cdrrod Report Abuse Somebody is going to pay!
rbrk02 Champion Author Rhode Island Posts:5,917 Points:844,930 Joined:Jan 2011	Message Posted: Dec 5, 2012 8:41:57 AM Ignore rbrk02 Report Abuse No doubt that bills will increase. amoshins, well reasoned and stated comment.
7SPEEDY7 Champion Author Flint Posts:1,421 Points:632,925 Joined:May 2011	Message Posted: Dec 5, 2012 8:40:10 AM Ignore 7SPEEDY7 Report Abuse Crazy!!
HoosierDaddyKY Champion Author Kentucky Posts:1,337 Points:310,135 Joined:Dec 2011	Message Posted: Dec 5, 2012 8:38:21 AM Ignore HoosierDaddyKY Report Abuse Excellent, said Mr. Burns!
Eagle3236 Champion Author Missouri Posts:1,289 Points:236,875 Joined:Oct 2012	Message Posted: Dec 5, 2012 8:37:50 AM Ignore Eagle3236 Report Abuse 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 Posts:2,306 Points:667,995 Joined:Apr 2011	Message Posted: Dec 5, 2012 8:35:42 AM Ignore amoshins Report Abuse 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 Posts:10,210 Points:1,769,535 Joined:Dec 2004	Message Posted: Dec 5, 2012 8:30:24 AM Ignore Joeski1 Report Abuse Look out!! That bill is coming!! Gotta have it all ready for the next big one!!