In his column “Power to the People,” Donald M. Kreis, New Hampshire’s Consumer Advocate, highlights the ongoing Eversource rate case, where the utility is pushing for a 47% increase in distribution charges for residential customers. Notable anti-monopolist Matt Stoller criticises the electric industry, which once led innovation but now focuses primarily on raising prices for shareholders. He points out the reliance on specialised lobbyists, especially economists, who substantiate these proposals with intricate financial data.
The Eversource rate case highlights a proposed 47% increase in distribution charges for residential customers in New Hampshire. Prominent economist Matt Stoller criticises the ongoing prioritisation of shareholder returns over innovation, alongside testimonies from various experts arguing for lower returns on equity. The outcome of this case could significantly impact household finances, potentially saving customers millions annually.
The rate case exemplifies the critical tussle between utility profits and consumer affordability. As various stakeholders like the Office of the Consumer Advocate challenge the proposed increases, the outcome could save New Hampshire ratepayers upwards of $12 million annually. This instance underlines the importance of regulatory vigilance in ensuring utilities do not exploit their customers.
Original Source: indepthnh.org
