Eversource says pipeline deal would lower electric rates, but ratepayers will be charged

[Divernan]

2. Utilities hit customers with MILLIONS of $$$ in "stranded costs"

Utility companies are expert at underestimating construction costs, in order to get approval from state government oversight commissions(typically called Public Service Commissions, or Public Utility Commissions), and then sticking customers with outrageous cost overrides.

• The nuclear plants operating in U.S. today were
built in the 1960s-1980s.
• Data compiled by U.S. Department of Energy
reveals that total estimated cost of 75 of today’s
nuclear units was $45 billion in 1990 dollars.
• Actual cost of the 75 units was $145 billion, also in
1990 dollars.
• $100 billion cost overrun was more than 200
percent above the initial cost estimates.
• $100 billion overrun does not include escalation
and interest.

www.citizen.org/documents/SchlisselCongressionalBriefing.pdf

My electricity supplier, Duquesne Light, pulled this on its customers, but still payed dividends to its stockholders, bonuses to its execs, etc.