Neat website made by a guy in town - pretty eye opening stuff!
thanks MH
I’m not advocating gun violence. just sayin I understand how someone comes unhinged and shoots up a building full of the politburo.
ever notice how giant companies get to make big, leveraged bets but they never seem to have to pick up the tab when the deal shirts the bed?
quote:
Originally posted by PeaPodthanks MH
I’m not advocating gun violence. just sayin I understand how someone comes unhinged and shoots up a building full of the politburo.
ever notice how giant companies get to make big, leveraged bets but they never seem to have to pick up the tab when the deal shirts the bed?
How did Chris Rock put it… “I’m not saying it’s ok, but I understand!”
We’ve all been hosed by SCANA, no doubt about it!
Fishing Nerd
“skilled labor isn’t cheap, cheap labor isn’t skilled”
what happened to the buyout plan? I lost track of it got passed or not
“mr keys”
That’s enough to anger the good humor man. Isn’t there ANYTHING our elected representatives in Columbia can do about this? If it means SCANA going bankrupt, their stock price falling to zero, all assets liquidated, then so be it. I just can’t see us having to pay for their screw up.
ZX
Trust me, in the end, the little guy ALWAYS gets the shaft. The idiot politicians that allowed this to happen and the over-paid executives that did it sure as heck won’t pay.
“Apathy is the Glove into Which Evil Slips It’s Hand”, but really, who cares?
Just curious, but why during all this major CF and blowback from legislators and rate payers does no one mention the state owned utility that was 45% of this failure?
By CF, I didnt mean Chas Fishing. Its an abbreviation for something else.
quote:
Originally posted by DFreedomTrust me, in the end, the little guy ALWAYS gets the shaft. The idiot politicians that allowed this to happen and the over-paid executives that did it sure as heck won’t pay.
“Apathy is the Glove into Which Evil Slips It’s Hand”, but really, who cares?
Exactly. This state is really an Oligarchy. Most folks just won’t admit it.
“Wailord”
1979 17’ Montauk
90 Johnson
Wilderness Ride 115
quote:
By CF, I didnt mean Chas Fishing. Its an abbreviation for something else.
Cluster Fubar?
dang straight it is. We’ve been bent over for this one.
“Thank you sir may I have another!”
j
no one denies that this is a huge mess, plenty of blame to share among many organizations, I’ve shared many the details and tried to summarize the facts, it’s immensely complicated, there is no perfect solution that makes everyone happy, the only question is: How much and for how long do you want this to hurt?
bottom line where are things today:
-
people are pissed, they want a full refund and don’t want to pay any more
- there is no bottomless pit of money that can give full refunds, much of the money has been spent to pay creditors, legal actions were taken to obtain financing, those debts must and will be paid regardless of what happens -
as of today there are primarily 3 options: the Dominion offer, the SCE&G offer or the legislators do what they are talking about
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Legislators: revoke BLRA (nuclear rate increases), do retroactive rate making and remove the nuclear component from rates, beat on SCE&G in other ways to get re-elected
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SCE&G offer: about a 3% rate reduction, recover nuclear costs over 50 years, and get a natural gas generator at no cost to customers, in the utility world SCE&G is a small company and that’s all they can afford to do without financially crippling the company which would start a cascade of events that would hurt customers, employees and stockholders, everyone would loose except the creditors
-
Dominion - average of $1,000 residential refund, about a 5% rate reduction, eliminate/absorb $1.7 billion of nuclear costs, recover remaining nuclear costs over 20 years, and get the gas generator at no cost to customers, about the refund: everyone’s refund will be different, it’s based on your 2016 usage, my refund would be $944, I’ve seen others that range up to $1,600 but I know some will be higher, the math works out to about a 2/3rds refund of what has been paid on the nuclear project
What happens under each option:
Legislators - SCE&G immediately files a lawsuit and things go to court for a long time, no rate reduction, nuclear costs continue to be collected while
Bill, thanks for the lowdown! I have learned more in your report then all the BS on tv and print.
What’s this gas generator about?
“Wailord”
1979 17’ Montauk
90 Johnson
Wilderness Ride 115
quote:
Originally posted by GeronimoWhat’s this gas generator about?
“Wailord”
1979 17’ Montauk
90 JohnsonWilderness Ride 115
G-man - are you not paying attention? It’s been talked about for a couple months. This is a very important part of the whole discussion.
In the utility industry when capital is spent/invested the cost goes into the ratebase and is used to calculate rates. When the value of the ratebase rises, rates increase. Said another way, rates go up when money is invested in infrastructure.
SCE&G needs base load generation. The 540 MW gas turbine is located south of Columbia. It was built a few years ago by an independent power producer and is called Columbia Energy.
In November SCE&G proposed to drop rates 3% and buy this power plant for $180 million but NOT add the investment to rates. That is the same as a rate reduction.
The Dominion deal includes this purchase under the same terms. It also includes a refund to customers of $1.3 billion and elimination of $1.7 billion of nuclear debt.
Pioneer 197SF