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Capital Concerns
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Business New Haven
2/23/1998
By: BNH
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CBIA Expresses Reservations Over Restructuring Bill
The Connecticut Business & Industry Association (CBIA) contends the current electric restructuring bill isn't strong enough.
The state's largest business association and just one of many organizations to speak at a recent public hearing on the bill, CBIA said that nuclear plants should not be excluded from securitization - a controversial means of refinancing utility company debt that some critics see as a bailout. “By securitizing all assets, including the nuclear plants, [customer] rates could fall as much as 15 to 20 percent,” CBIA President Kenneth O. Decko said. As it stands now, the bill's goal is a ten-percent rate reduction.
CBIA also said that many businesses won't realize savings from restructuring because the bill uses 1991 data to determine the pro rata share that commercial and industrial customers will bear in paying for base services charges, rather than the most current data available. In addition, it opposes a provision in the bill calling for an increase in spending on conservation efforts, from $32 million to $90 million.
Energy on the Web
If you're interested in energy restructuring and deregulation, you might want to spend a little time checking out the resources available on the Internet. In Connecticut, both United Illuminating and Northeast Utilities have Web pages devoted to the issue.
You can also keep tabs on the state legislature's activities by going online.
But beware: The Web isn't always as up-to-date as you might think. With the legislative session just beginning, there is little online news yet. And while UI's Web site includes a page devoted to an online discussion forum, the last post there at press time was dated September 8, 1997.
n Northeast Utilities
http://www.nu.com/
n United Illuminating
http://www.uinet.com/
n Connecticut General Assembly
http://www.cga.state.ct.us/
n The Utility Connection
http://www.magicnet.net/~metzler/page2d.html
n Energy Online (emphasis on restructuring)
http://www.energyonline.com/
n Electric Utility WWW Resource List
http://sashimi.wwa.com/~merbland/utility/utility.html
Valley Project Seeks Federal Funds
Two economic development agencies in the Naugatuck Valley are surveying hundreds of businesses in a 17-town region in the hope that the results will make it easier to land federal funding.
The project is being conducted by the Shelton Economic Development Corp. and the Naugatuck Valley Development Corp. in Waterbury. The agencies have received a $100,000 federal grant for the planning project in addition to a $20,000 grant from the Community Foundation of New Haven and a $13,000 grant from the Waterbury Foundation.
The agencies will use the results of the survey and other studies to apply for designation as an Overall Economic Development Program through the U.S. Economic Development Administration. Regions that don't belong to an OEDP have a harder time securing federal economic development money.
“Our area has not had an application for EDA funding for infrastructure, for example, in 15 years - a generation,” notes James Ryan, executive director of the Shelton agency. “If there's not federal funding coming into the region, then shame on us.”
DECD Opens
Shelton Office
The state's Department of Economic & Community Development (DECD) recently opened a branch office in Shelton, continuing to make good on its promise to decentralize the agency and go directly into the community. DECD Commissioner James Abromaitis says the regional offices will improve customer service and offer the “one-stop shopping” concept for businesses and community groups seeking state programs and services.
DECD has opened 18 regional offices in the state. The Shelton office is located at 900 Bridgeport Ave.
To make comments or suggestions for the government section, contact Jennifer M. Gangloff through BNH or via e-mail at JenWrites@mindspring.com
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