Electricity and Energy Agenda In CT

Hopefully the last of the UI rate hikes are complete and to make sure we do not over extend ourselves the most important thing we can do this coming year is educate ourselves on energy conservation. In reading scores of news stories and blogs there appears to be a lot of dissappointment with the way CT’s Citizens are treated these days. Lets face it, you, me, and everyone alike, has been (and continues to be) an awesome opportunity for big business to procure revenue on behalf of themselves and investors. In some cases we are the investors reaping the rewards of the misery big business pushes on others. A case in point is the staggering profits of Exxon Mobil and I assure you as I was cursing the Gas pump there were countless others who invested in Exxon that got their Gas money back in spades.

Unfortunately I do not believe UIL stock is going to show the same level of gratitude I would suggest that anybody and everybody who own UIL stock sell every penny of it and inform their friends and relatives to do the same. This is the best message we can send.

I believe that this rate increase is not because of anything, other than, recouping lost profit from an 18 Million dollar loss on UI’s Xelcom nightmare, and pressure to get the “Filthy Five” back in business burning natural Gas. Gas delivered from a horrific LNG nightmare off the coast of West Haven. I believe that UI is cut from the same mold as Enron it is hard to feel sorry for a company that delivered us the highest electrical rates in the continental U.S. I also remember the nuclear power plant they wanted to build in Westport 40 years ago today.

Now UI wants to get back in the generation business. They want to reap even bigger profits by repurchasing the power plants they sold. I believe they know that gas burns cleaner hence resolving the coal burning pollution trouble of UI’s “Filthy Five” problem. Their massive rate hikes also quite ironically erase their irresponsible losses on the Xelcom fiasco too perfectly.

The old CEO left pretty much in a hurry and the new guy Mr. Torgensen does not give a hoot about us the consumers. UI has offered nothing to the poorest of the poor so far. At the moment His entire day appears to be consumed battling politicians, arbitrating down UI’s employees, and counting wall street profit. The only time we, the CT consumer, are ever thought of is when we fail to afford our electric and the power is shut off.

As a small business owner I just opened a little company called the ComputerFox right here in Milford Ct on New Haven ave. and I cannot tell you how every penny counts in starting a business. Up front losses are expected but thanks to UI’s 50% rate hike for commercial locations I am quite certain that that my growth plans are being impacted.

The consensus of many of my collegues at the chamber of commerce is that business is becomming more and more challenging in CT. I can only hope that some one sees that the aggregate carelessness of utilities, taxation, insurance, and services directly impact the already micro-wage economy that we have built.

The problem goes full circle in that the same underpaid people just return to your business and force small business to either collect less or nothing. Blumenthal is correct in calling UI’S rate hike a “Tsunami” I see it more as the “final nail in the coffin” of New Haven as well as the modern harbinger furthering the spread of poverty. It would appear that the BIC corporation closed its plant just in time. I fear Sikorski will move out of state next taking dictaphone with it. Many news companies, I believe, will also be impacted as many small businesses who advertise in will have to chose between fewer ads or power.

The only good news I see in the distant future is that Deregulation may be accelerated and new companies will be offering competitive rates, however Gov. Rell says that she see’s no short term solution in sight due to UI’s contract obligations. For now we may all have to buy more efficient light bulbs and use less power. Keep CT in your prayers.

To listen to UI's Conference call click on the link:

http://biz.yahoo.com/cc/2/83932.html