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Date Posted: Wednesday, February15, 01:21:am
Author: dazzle'em
Subject: Re: Council Mis-information
In reply to: dazzle'em 's message, "Re: Council Mis-information" on Thursday, January26, 03:49:pm

It's been reported that the ceo of Central Hudson is to be replaced. So. The politicos are demanding accurate non-estimated billing (meanwhile NYS and the Fed are running yoy deficits) and a return every penny spent on the new customer billing system to ratepayers. Why a clawback? In just a few years over $2 billion in "relief" for customers in arrears, a program essentially built into and leveraged out of the nys state budget(s) and subsidized by federal deficit spending, made its way to the coffers of nys utility companies. A "Bailout" imo. The cost is borne by all rate payers via surcharges on their monthly utility bills and by all taxpayers. Most important, what was achieved was a precedence of the risk cost of future non-payments for a company was shifted to its paying customers while simultaneously increasing the company capital. A "Bail-In" imo. So, why the clawback antics? What should happen is an immediate end of the surcharges and a crediting of the surcharged customers' accounts for the amount of surcharges already paid. Doubt it. A precedence has been set. Imagine what could be achieved with a cbdc.

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