Ike was right

There’s no question that these are some of the most challenging and troubling times since the Great Depression and WW2. It’s my belief that, over the years our political system has been high-jacked by big money and special interest, something that some very wise people saw coming a long time ago. President Dwight D. Eisenhower warned us back in the 50’s about the threat by some of the largest industries of that time, the military industrial complex. He warned us that our large corporations would infiltrate our government through their lobbyists and influence all political decisions in our country. I believe that Ike was right and, we the people did not heed his warning which has led us to the mess we’re in. At the moment there are signs that the society and the standard of living you and I have enjoyed is in the process of being dismantled. Just look at your own situation, look around your own neighborhood and compare what you see with what you experienced when you were a kid. Has your quality of life improved? Have conditions in your neighborhood or city/town improved? Do you feel safe and secure economically? Do you believe that your kids will have the same opportunities you and your parents had? If the answer to these questions is NO, then you agree with me that we’re in decline. The real challenge and where it may be difficult for us to agree is on the course of action that needs to be taken to put us back on course.(If that’s our goal)  I believe that the last time the citizens of this country were as politically divided as they are today was during the Vietnam War, but unlike the 60’s, hardly anybody has taken to the streets.(yet) It’s a very different story in Europe where street demonstrations have become daily events. Of course the main issue both here and abroad is the economy and the plight of the working poor and the dismantling of the middle class. The size of the middle class and their salaries raised the standard of living in this country as nowhere else in the world. If I had to point to a single event that triggered this decline I’d say it was when Ronald Reagan fired the Air Controllers and the pilots crossed the picket lines. To me that was the beginning of the end of a country where the majority of its citizens belonged to the middle class. Working class wages have remained flat for over 30 years while the cost of goods and services has increased dramatically. Our paychecks are buying less and less as the cost of some necessities of life such as food, healthcare and energy have doubled, tripled and even quadrupled over this same 30 year period. Because these changes were spread over time the effects were subtle and, the ordinary citizen didn’t pay much attention to the consequences. Our grocery bills increased a couple bucks a month, our fuel oil bills increased a couple hundred dollars a year, gas went up a few pennies now and then and soon we needed a second paycheck to maintain our standard of living. Gone were the days when women could stay at home and raise the kids and we could have a  boat, a snowmobile and a camp on a pond or lake. Recently I’ve had more than one person tell me that they’re prepaying their heating fuel for next winter and that it will cost them $1,000.00 more than last year. Some of our residents will have to come up with $3K to $5K for the heating season, how some people will mange remains to be seen. Retired folks have a double whammer, these rising costs all while their retirement plans such as 401K keep losing value each time the stock market takes a dive. We may be the first generation whose standard of living will be lower than our parents and our grandparents and how we deal with that reality also remains to be seen. Here in New Hampshire, the infinite wisdom of newly elected republicans/tea baggers, voted to repeal the minimum wage law saying it was “killing jobs”. What jobs? Certainly not those sent to China by our own corporations. Removing the minimum wage law will just further facilitate the dismantling of the middle class and the standard of living that three generations worked so hard to build. Maybe we should just call this the age of reckless ignorance as most of us join the ranks of the working poor in a developing two class society.

Comments

[jon]

Public Service 780 N. Commercial Street, Manchester, NH 03101
of New Hampshire Public Service Company of New Hampshire
P. 0. Box 330
Manchester, NH 03105-0330
(603) 634-3355
(603) 634-2438 (fax)
bersarapsnh.com
A Northeast Utilities Company
Robert A. Bersak
Assistant Secretary and
Assistant General Counsel
August 22, 2011
Ms. Debra A. Howland
Executive Director and Secretary
New Hampshire Public Utilities Commission
21 S. Fruit Street, Suite 10
Concord, New Hampshire 03301
Re: Docket No. DE 11-184
Joint Petition for Approval of Power Purchase and Sale Agreements and
Settlement Agreement
Dear Secretary Howland:
Pursuant to RSA 374:57 and the Public Utility Regulatory Policies Act, 16 U.S. Code
824a-3, Public Service Company of New Hampshire (“PSNH”), Bridgewater Power Company,
L.P., Pinetree Power, Inc., Pinetree Power-Tamworth, Inc., Springfield Power LLC, DO
Whitefield, LLC dlb/a Whitefield Power & Light Company, and Indeck-Alexandria, LLC
(collectively the “Wood IPPs”), the New Hampshire Department of Resources and Economic
Development (“DRED”) and certain Staff of the New Hampshire Public Utilities Commission
(“Staff”) (collectively, the “Joint Petitioners”) seek approval of the attached “Joint Petition for
Approval of Power Purchase and Sale Agreements and Settlement Agreement.”
The Joint Petition seeks approval of separate Power Purchase Agreements (“PPAs”) with
five of the Wood IPPs as well as a “Settlement, Release and Support Agreement.” In addition,
the Joint Petition sets forth a ratemaking treatment for PSNH, approval of which is a condition to
the effectiveness of the PPAs.
The Joint Petition is supported by the accompanying testimony of George Bald,
Commissioner, Department of Resources and Economic Development; Thomas C. Frantz,
Director of the Electric Division, New Hampshire Public Utilities Commission; and Richard C.
Labrecque, Supplemental Energy Sources Manager, PSNH.
The terms of the PPAs are the product of confidential negotiations and include
confidential, commercial, financial information as set forth in RSA 91-A:5, IV. Copies of the
PPAs are being filed in redacted form with this Joint Petition. Unredacted copies of the PPAs
and are being filed separately along with a Motion for Confidential Treatment Pursuant to N.H.
Code Admin. Rules Puc § 203.08.
-2-
The Joint Petitioners respectfully request that the Commission expedite its review of this
matter, in view of the public policy interests and beneficial impacts on employment throughout
the state that approval of the Petition would provide.
If you have any questions, please let me know.
Sincerely,
Robert A. Bersak
Assistant Secretary and
Assistant General Counsel
cc: Office of the Consumer Advocate (Rule Puc 203.02)
THE STATE OF NEW HAMPSfflRE
BEFORE THE
NEW HAMPSHIRE PUBLIC UTILITIES COMMISSION
Docket No. DE 11-184
Joint Petition
for
Approval of Power Purchase and Sale A2reements
and
Settlement Agreement
Public Service Company of New Hampshire (“PSNH” or the “Company”), -
Bridgewater Power Company, L.P., Pinetree Power, Inc., Pinetree Power-Tamworth,
Inc., Springfield Power LLC, DG Whitefield, LLC dlb/a Whitefield Power & Light
Company, and Indeck-Alexandria, LLC (collectively the “Wood IPPs”), the New
Hampshire Department of Resources and Economic Development (“DRED”) and certain
Staff of the New Hampshire Public Utilities Commission (the “Staff’) (collectively, the
“Joint Petitioners”) seek approval from the New Hampshire Public Utilities Commission
of:
(a) power purchase agreements between PSNH and five of the Wood IPPs
pursuant to RSA 374:57 and the Public Utility Regulatory Policies Act, 16 U.S. Code
824a-3;
(b) ratemaking treatment of the cost of the power purchase agreements as set
forth herein, and;
(c) a Settlement, Release and Support Agreement pertaining to these transactions
in which, inter ulia, PSNII grants a release of claims to the Wood IPPs.
In support hereof, the Joint Petitioners state as follows:
1. On April 18, 2011, the Commission issued its Order No. 25,213 in Docket
No. DE 10-195 conditionally approving a power purchase agreement submitted by PSNH
regarding a proposed biomass-fired generating station to be constructed in Berlin, New
Hampshire. On June 23, 2011, the Commission similarly issued its Order No. 25,239 in
that same docket approving an amended power purchase agreement (the “Amended
PPA”) and denying a motion for rehearing submitted by the Wood IPPs.
2. On May 17, 2011, the Wood IPPs filed an appeal with the New Hampshire
Supreme Court with respect to Order No. 25,213 which has been docketed by the Court
as Docket No. 2011-0348. Subsequently, on July 22, 2011, the Wood IPPs filed a second
appeal with the New Hampshire Supreme Court with respect to Order No. 25,239, which
the Supreme Court also included in its Docket No. 20 11-0348. (Together, the “Pending
Appeal”).
3. On August 1, 2011, PSNH filed a Motion for Summary Dismissal of
Docket No. 2011-0348 with the Supreme Court. That Motion was joined in by the City
of Berlin, which also filed a Motion for Expedited Treatment with the Supreme Court.
4. On August 19, 2011, PSNH entered into individual Power Purchase
Agreements (the “Wood LPP PPAs”) with each of(i) Bridgewater Power Company, L.P.,
(ii) Pinetree Power, Inc., (iii) Pinetree Power-Tamworth, Inc., (iv) Springfield Power
2
LLC, and (v) Indeck Energy - Alexandria, LLC for the purchase of energy. Copies of the
Wood IPP PPAs are being supplied to the Commission separately, pursuant to a Motion
for Confidential Treatment.
5. Following lengthy negotiations between PSNH and the Wood IPPs that
were facilitated and supported by Governor John H. Lynch, Resources and Economic
Development Commissioner George Bald, certain members of the Executive Council,
State Senators Jeb Bradley, John Gallus and Jeanne Forrester, , the Office of Energy and
Planning, the Governor’s staff; and Commission Staff; PSNH entered into the Wood IPP
PPAs as part of a series of transactions to resolve the Supreme Court appeals filed by the
Wood IPPs related to the Amended PPA and to support the continued operation of the
Wood IPPs’ generating facilities and related economic benefits..
The Wood IPP PPAs
6. PSNH has entered into five Wood IPP PPA documents each entitled a
“Transaction Confirmation” to purchase unit contingent energy from Bridgewater Power
Company, L.P., Pinetree Power, Inc., Pinetree Power-Tamworth, Inc., Springfield Power
LLC, DG and Indeck-Alexandria, LLC in quantities and/or for terms specified in each
Wood IPP PPA. Each of these Wood IPPs is a “qualifying facility” under the Public
Utility Regulatory Policies Act (“PURPA”) and the FERC’s PURPA regulations found at
18 CFR, Part 292. Consistent with RSA 369-B:3,IV(b)(l)(A), the purchases under the
Wood IPP PPAs constitute “supplemental power purchases.”
3
7. The pricing of these power purchases has been negotiated pursuant to 18
CFR 292.301 (b). The accompanying prefiled direct testimony of Thomas C. Frantz,
Director of the Electric Division at the New Hampshire Public Utilities Commission
discusses and supports the pricing provisions of the Wood IPP PPAs, and explains why
they are “just and reasonable to the electric consumer of the electric utility” as
contemplated by 18 CFR 292.304(a)(1)(i), RSA 374:57 and RSA 369-B:3,IV(b)(l)(A)..
George Bald, Commissioner of the New Hampshire Department of Resources and
Economic Development (“DRED”), explains in his accompanying prefiled direct
testimony why these purchases are supportive of state public policy and are in the public
interest, also as contemplated by 18 CFR 292.304(a)(1)(i).
8. Each of the Wood IPP PPAs includes a “Fuel Price Adjustment”
mechanism. The “Initial Wood Price” for each of the individual Wood IPP PPA’s is
subject to verification, review and approval by the Commission.
9. In order to achieve the public interest goals described by Commissioner
Bald without adversely affecting PSNH’s Energy Service rate, the Wood IPP PPAs are
conditioned upon the Commission’s approval of a ratemaking methodology which
provides for full recovery of all costs of these transactions by PSNH without increasing
the Company’s Energy Service rate. The Joint Petitioners have agreed upon seeking the
following cost recovery methodology to satisfy this condition. The costs of the Wood
IPP PPAs would be recovered as part of PSNH’s Energy Service rate. To avoid any
increase in the Energy Service rate that may result from these Wood IPP PPAs, the
4
Parties request that the Commission authorize PSNH to transfer a liquidated amount of
$8.5 million of costs associated with uncollectible and certain administrative expenses
from its Energy Service rate to its distribution rate.1 By doing so, up to $8.5 million of
above-market power costs from the Wood IPP PPAs can be included in PSNH’s Energy
Service rate annually without adversely impacting that rate. To the extent that the abovemarket
costs of the Wood IPP PPA’s exceed $8.5 million during any Energy Service rate
year, the Parties request that the Commission authorize PSNH to defer for future recovery
any such excess. Any deferral created under this mechanism would accrue interest at the
Company’s weighted cost of capital for its generation segment, and would continue to be
recovered through the Energy Service rate annually until fully recovered, with annual
recovery limited to the extent that above-market costs attributable to the Wood IPP PPAs r
and the deferral recovery do not in total exceed the $8.5 million annual limit. Finally, the
Parties request that the Commission authorize PSNI-I to begin recovery of the $8.5
million transferred to its distribution rates effective as of the first day of the month
following the earliest start date of any of the Wood IPP PPAs, in a manner that results in
full recovery thereof.
10. PSNH’s obligation to purchase power under the Wood IPP PPAs is
contingent upon two fundamental conditions precedent:
a. Receipt of a final, nonappealable decision from the New Hampshire
Public Utilities Commission, approving this Petition as submitted without
I Recovery of uncollectible expense through the Energy Service rate was required by Order
24,750 (May 25, 2007) slip op. at 9. The Company is recovering a portion of the PUC
assessment through its Energy Service rate based on an adjustment made by Staff during an
audit of the Company’s filing in DE 09.035.
5
alteration, modification or condition, and allowing for full cost recovery of
the rates, terms and conditions of the Wood IPP PPAs by PSNH in a
manner not to increase PSNH’s energy service rate as set forth in this
Petition; and,
b. Closing on the construction debt financing for a proposed wood-fired
power plant of approximately 67 MW to be located in Berlin, New
Hampshire which is the subject of the Amended Power Purchase
Agreement with PSNH approved by the New Hampshire Public Utilities
Commission in Docket No. DE 10-195, such that no less than $2.25
million of the New Markets Tax Credits in the debt financing transaction
are allocated to the community loan fund and $500,000 for use by the City
of Berlin that will be the source of funding for certain community benefits
and economic development resources related to the Berlin Station project,
as described in the New Hampshire Site Evaluation Committee’s
“Decision Granting Site and Facility with Conditions” dated November 8,
2010, in its Docket No.2009-02 at page 44, and the closing of which must
occur on or prior to August 30, 2011.
11. Mr. Richard Labrecque discusses the Wood IPP PPAs and requested
ratemaking treatment on behalf of PSNH in his accompanying prefiled testimony.
6
The Settlement, Release and Support Agreement
12. As part of a comprehensive settlement of all claims arising out of Orders
25,213 and 25,239, the Wood IPPs, Berlin Station, LLC, Laidlaw Berlin BioPower, LLC,
Cate Street Capital, Inc., and PSNH (collectively, the “Settling Parties”) entered into a
“Settlement, Release and Support Agreement” (the “Settlement”), a copy of which is
attached hereto as Attachment 1. PSN}I seeks Commission approval of the Settlement
because in that agreement, PSNH would release all claims for now and all time that arise
under or are related to the Commission’s approval of the Amended PPA, or Docket DE
10-195 and the Settling Parties’ participation therein (including any Claims that were
made therein or could have been made therein), the Pending Appeal and the Settling
Parties’ participation therein, the Amended PPA (with the exception of any contractual
obligations between the parties to the Amended PPA arising thereunder), the IPP Power
Purchase Agreements (with the exception of any contractual obligations between the
parties to any of the IPP Power Purchase Agreements arising thereunder), and their
negotiation, execution and delivery, and any conduct, communications, negotiations,
meetings, course of dealing or other actions related to any of the foregoing, on or before
the date of the Settlement (collectively, “Released Claims”).
Confidential Treatment
13. The financial terms of the Wood IPP PPAs are the product of negotiations
and include confidential, commercial, financial information as set forth in RSA 91-
A:5,IV. Contemporaneous with this Joint Petition, the Wood IPPs are filing with the
7
Commission a Motion for Confidential Treatment to which redacted and unredacted
versions of the Wood IPP PPAs are attached.
WHEREFORE, for the reasons set forth in this Joint Petition and the
accompanying prefiled direct testimony, all of which is incorporated by reference,
the Joint Petitioners respectfully request that the Commission issue an order
approving this Petition:
A. Finding the Wood IPP PPAs and the Settlement, Release and
Support Agreement in the public interest and approving same;
B. Verifying, reviewing and approving an “Initial Wood Price” for
each of the individual Wood IPP PPA’s;
C. Authorizing PSNH to transfer the liquidated amount of $8.5
million attributable to uncollectible and certain administrative
expenses from its Energy Service rate to its distribution rate;
D. Authorizing PSNH to increase its distribution rates upon thefirst
day of the month following the earliest effective date of any of the
Wood IPP PPAs to recover the $8.5 million in costs transferred
thereto, in a manner that results in full recovery thereof
E. Authorizing PSNH to recover through its Energy Service rate the
market value of purchases under the Wood IPP PPAs as well as up
to $8.5 million annually of any above-market costs associated with
purchases under the Wood IPP PPAs;
8
F. Authorizing PSNH to defer with a return at the Company’s
weighted cost of capital for its generation segment for future
recovery through its Energy Service rate any above-market costs
associated with the purchases under the Wood IPP PPAs which
exceed the $8.5 million annual cap; and further authorizing PSNH
to recover all such deferred amounts through the Energy Service
rate annually until fully recovered, with annual recovery limited to
the extent that above-market costs attributable to the Wood IPP
PPAs and the deferral recovery do not in total exceed the $8.5
million annual limit;
G. Ordering such further relief as may be just and equitable.
Dated: August 22, 2011 Respectfiully Submitted,
PUBLIC SERVICE COMPANY OF NEW
HAMPSHIRE
By:
__________________________
Robert A. Bersak
Assistant Secretary and
Assistant General Counsel
Sarah B. Knowlton
Senior Counsel
Public Service Co.of New Hampshire
780 N. Commercial Street
P. 0. Box 330
Manchester, NH 03105-0330
603-634-3355
9
BRIDGEWATER POWER COMPANY, L.P.,
PINETREE POWER, INC.,
PINETREE POWER-TAMWORTH, INC.,
SPRINGFIELD POWER LLC,
DG WUITEFIELD, LLC DIBI A
WIIITEFIELD POWER & LIGHT COMPANY,
AND
INDECK ENERGY-ALEXANDRIA, LLC
By Their Attorneys,
OLSON & GOULD, P.C.
By: 44L244,
David J. Shulock ,Esq. (NH # 10597) 0
Robert A. Olson, Esq. (NH # 1933)
David K. Wiesner, Esq. (NH # 6919)
2 Delta Drive, Suite 301
Concord, NH 03301-7426
603-225-9716
STAFF OF THE NEW HAMPSHIRE
PUBLIC UTILITIES COMMISSION
By:_______
Name: t I-i
Title: r-4/ L(fl
21 South Fruit Street, Suite 10
Concord, NH 03301
603-271-2431
10
NEW HAMPSHIRE DEPARTMENT OF
RESOURCES AND ECONOMIC
DEVELOPMENT
By:____
Name: George M. Bald
Title: Commissioner
172 Pembroke Road
P. 0. Box 1856
Concord, NH 03302- 1856
603-271-2411
11
Certificate of Service
I hereby certify that on this 22nd day of August, 2011, a copy of this Joint Petition
has been forwarded by electronic mail to the Office of Consumer Advocate.
12

[toonist]

Did you know that Ike had UFO sightings?

[Antonio Andolini]

Hmmm...for someone such as I, resting somewhere right of center, to write a response to a Rocky rambling... well, here goes:
In that same 1961 farewell speech, Ike also warned:

"Akin to, and largely responsible for the sweeping changes in our industrial-military posture, has been the technological revolution during recent decades.

In this revolution, research has become central; it also becomes more formalized, complex, and costly. A steadily increasing share is conducted for, by, or at the direction of, the Federal government.

Today, the solitary inventor, tinkering in his shop, has been overshadowed by task forces of scientists in laboratories and testing fields. In the same fashion, the free university, historically the fountainhead of free ideas and scientific discovery, has experienced a revolution in the conduct of research. Partly because of the huge costs involved, a government contract becomes virtually a substitute for intellectual curiosity. For every old blackboard there are now hundreds of new electronic computers.

The prospect of domination of the nation's scholars by Federal employment, project allocations, and the power of money is ever present and is gravely to be regarded."
http://www.h-net.org/~hst306/documents/indust.html

Are we in decline? Looking around I can see the uptick in commerce at the beginning of each month at WalMart and the local drug den. I can see overweight kids huddled in front of plasma TV screens. I can see a society of dependence devoid of any notion of personal responsibility.
I agree that the political division today is near the level over Vietnam. Many of those who took to the streets believed they could accomplish change.(Sadly, much of that was hijacked by bank-robbing, bomb-tossing anarchists, too many of whom influence education and government these days. But that's another topic.) Where we part is your contention that the mindless mayhem committed by common thugs over there is anything like what occurred here.
Interesting that you pick President Reagan's standing up to the air traffic controllers' unions as a pivotal point. So, that time it was bad for the big old federal government to take over? To me, it was when a leader took charge and put a stop to dangerous illegal action.
As for the economic morass we wallow in, why have the costs of goods and services increased? The dollar is not worth what it once was. Why would that be? The bloated bureaucracy called a federal government needs more money to sustain, if not expand, itself. "The percentage you're paying is too high priced, 'cause you're living beyond all your means." Steve Winwood 1971
I recall telling my mother once that I did not expect to know in my lifetime the economic prosperity that she and my father did in the 50's. We can agree that it would be a shame for future generations to not know economic security. Like you say, though, they worked hard to build it. They didn't kick back and wait for the government to give it to them. Before you say, "G I bill",remember, that help came with lots of requirements to qualify. That lunch in the pail you lugged to work wasn't free. You earned it.

[Antonio Andolini]

UFO eh? So that's where the tourists came from!

[Rocky]

You certainly make a good argument Antonio and I agree with most of your points. Nobody ever handed me a free lunch either. I don't have much but I earned every bit of it and I also paid for every bit of it. My father spent his working days in the paper mills of Berlin/Gorham and my grandfather came here to work at the Riverside Mill when it was first opened by Brown Company. They both spent their lives shoring up the values of the middle class and helped define what the "middle class" became. You're right Antonio, the dollar has lost its value because the country keeps printing money to pay its bills. This conversation should be about those bills and what we've collectively and through our government, decided to spend that money on. At the moment we have those who in complete arrogance and ignorance are prepared to put on the sacrificial alter, social programs such as Social Security or the good credit of this country, for the purpose of furthering their beliefs in an ideology of money and power. They are prepared to put at risk the work of the past 3 generations to prove their point, which in most cases doesn't even make sense. Presently many of our corporations are also involved in "dangerous and illegal actions", but our corporate government isn't about to fire their CEO's since the politicians are virtually on the payrolls of the corporations. It's interesting how the right wing thinker has no problem with $600.00 toilet seats and fighter jets with multimillion dollar cost overruns, but heartburn at a welfare cheat collecting $100.00 more than allowed. The hypocrisy of those arguments are sickening and reminiscent of arguments going on in Germany in the early 30's and require a "boogie man" to sustain their irrational and emotional arguments.

[Rocky]

Thanks Jon. Why do I have a feeling that the PUC has given PSNH the OK for them to reach into my wallet? See Antonio, this is an example of our corporate democracy at work. :(

[warren,]

You are a Part of the Problem, not the Solution, Rocky. Antonio tried to correct You, and You almost came clean...but that Lefty Bias Streak of Yours engaged in gear and the B.S. rolled forth. The "Right Wing Thinker" as You Incorrectly Name ANY Americanist/Constitutionalist/Independent has as Much a problem with the $600 toilet seat as the Welfare Cheat that Obviously votes Democrat...Emmis? BTW, that attempt to Lump those of US who Oppose what You stand for with "Germany in the early 30's and require a "boogie man" etc." is TRULY Disgusting and a sure sign of the Sickness residing in Your Own Heart/Mind. See My first sentence again.

[jon]

I think we would be reaching into our wallets significantly more if the PUC doesn't go along with this. Providing the IPPS with two years of power purchases allows time for the legislative changes the IPPS need to move into the future. This outcome provides for the continuation of jobs associated with ISSI and five IPPS in exchange for biomass in the city's center. That is a huge change from November of 2006 when no one was talking about the survival of the already established backbone companies of the area. All of these companies used Berlin station as either a crutch or wedge to survive. All the more "power" to them. They are our proven backbone within the local economy. Meanwhile, Berlin station bought out the other biomass plan leaving Berlin with one option to fill its gap with local loggers; Berlin station. Maybe having biomass in the city's center isn't the perfect centerpiece to the city, but in a nationwide economic turmoil it certainly seems to be now potentially saving Coos county from the economic turmoil of five IPPS and ISSI losing operations.

[HLH]

It's good now that you (Jon) turn around...Still not too late!!!

[jon]

It has been a necessary progression based on economic events rather than a "turn around", HLH. Berlin station now has a qualified team at the helm, PSNH is now playing ball with the IPPS, ISSI has now become a major player in the construction of the facility, and Clean Power has been paid off to eliminate their spot ahead of Laidlaw.

I truly feel bad for you, HLH, as you certainly believe in a company that has significant scrutiny levied against them at the moment and I believe you are a sincere investor in LLEG that simply got caught up in a little too much of their "kool aid". Though I see promise with Cate Street going forward based on their past accomplishments and money already put into this project, I knew from the way Bartoszek failed to look locals in the eyes that he needed to be researched. The more research I did, the more concerned I became. Apparently the Securities and Exchange Commission has found quite a few issues as well that may make my findings pale by comparison. Best of luck to you, though, and I hope you move towards diversification of your investments.

[Rocky]

I long ago said that Berlin would survive with or without that biomass plant. Like everything else in life there's usually some positive aspects to most events if you look hard enough. You're right Jon, saving ISSI (if this indeed does that) and the PILT to the City are both positive outcomes. I hope those who reside next to the plant come to the same conclusion once the boiler is fired up.

[jon]

you might want to read this ihub post very carefully, HLH.

"Tuesday, August 23, 2011 11:15:37 PM
Re: Bad Gambler post# 100406 Post # of 100414
They only own 10% of the common stock. The other 60% of equity they have is in preferred shares. Thus ALL non-insider common stock represents only 30% of the equity in LLEG according the LLEG website.

So how important is the value of the common stock to them? Not as much as one might assume if their 70% control was all common stock. It's value is more important as a vehicle to do deals.

Again, what is the payout due them going to do for the common stockholder? Based on currently available information, which ain't much unfortunately, it is reasonable to assume not much....if anything.

Maybe it will...but I have yet to see any reasonable argument that it would be meaningful in some way.

But time will tell....

Awaiting the PR."

[jon]

Unfortunately, Rocky, I don't think it matters what people within close proximity to the plant think now or in the future provided law is followed. At this stage, too much money has been invested and sensible agreements with the IPPS and ISSI are in place. Difficult to bring back choice to the people. The only way this plant doesn't move forward is failure for them to obtain financing. With a deadline of August 30th for commitment on financing as part of the Power Purchase package I suspect that conditional financing is in line. The economy is dictating all moves currently on both the local and national level. At least in Berlin's case, Berlin may very well bring its head above water. It's the rest of the country and its economy that could rear its ugly head at any time and bring this whole deal to termination. In the wake of horrific world wide economic turmoil, this whole deal still needs to go before the PUC for approval which is a "PROCESS" and then some even when "expedited". Additionally, the project needs to endure three years of construction prior to a puff of smoke happening. All within an economy most have never witnessed.

[Antonio Andolini]

Regarding the street attacks, here and over there:
http://www.rr.com/news/topicdl/article/dlt/0g0n5oI8TM6UM/0byx6iK7OOcUM/Thomas_Sowell_looters_a

[Rocky]

Good article Antonio, the comments are worth reading too. I think were facing a huge challenge, a generations of people that always got what they wanted. What happens when they can't only not have what they want, but maybe what they need?

[Antonio Andolini]

An interesting twist on our political system using big money for a special interest:
http://articles.philly.com/2011-08-22/news/29900989_1_ackerman-buyout-business-leaders

[wood burner]

WOW!! I can't believe what I am reading on this blog! What a change LOL For the GOOD I might add.

[Rocky]

....A government of the people by the people and for the people?

[Antonio Andolini]

Indeed, Rocky, having given them what they wanted for so long, we will be unable to afford to give them what need. The cycle of dependence must be broken. The problem didn't happen overnight; the solution won't happen overnight. But, it is time to start.
This does not mean cutting off Granny's Social Security, shutting off fuel assistance or emptying public housing projects. It means fine tuning the system and planning affordable benefits for Granny's grandchildren and great-grandchildren. It means teaching skills, as well as a work ethic, so you can earn enough to pay for heat and housing.
It also means rejecting the rhetoric and trying to reach consensus. Statements that, "(H)ere in New Hampshire, the infinite wisdom of newly elected republicans/tea baggers, voted to repeal the minimum wage law saying it was 'killing jobs'" are the sort of half-truths that don't help. The minimum wage in NH is now automatically the same as the Federal amount. This right wing thinker has just as much of a problem with wasteful government spending on military operations as wasteful government spending on social programs. That is not to say there should be no military or no social programs. As you say, "(T)his conversation should be about those bills and what we've collectively and through our government, decided to spend that money on." The Federal Government has a role to play; the question is how big a role. Same question for state and municipal governments.
Some will say that I am just spouting silliness. Sure, there are solutions we may not agree on, but when we agree there is a problem, that's a start. This week is the 15th anniversary of welfare reform brought about by President Clinton and Speaker Gingrich.
Let's hope this will not go down in history as "the age of reckless ignorance."

[Antonio Andolini]

Well, Doctor, what have we got—a Republic or a Monarchy?”
“A Republic, if you can keep it.”
The response is attributed to BENJAMIN FRANKLIN—at the close of the Constitutional Convention of 1787, when queried as he left Independence Hall on the final day of deliberation—in the notes of Dr. James McHenry, one of Maryland’s delegates to the Convention.

[Antonio Andolini]

They promised you a pension, but now, they cannot pay?
What will the government do, you say?
http://www.washingtontimes.com/news/2011/aug/23/the-coming-pension-earthquake/

[Rocky]

Antonio, you must spend hours digging-up these links! Thank you. In the case of the Pension Benefit Guaranty Corp. I believe that the person who first earned the money he/she puts into a retirement plan deserves to have that money protected. I believe that whatever entity that provides the guaranty should also hold the funds and derive whatever benefits that accompany the funds that they're holding, be that a private company or the government. I believe that the companies who belly-up on their pension responsibilities should be prosecuted, anything less is thievery.

[Antonio Andolini]

With the renewed focus on the biomass plant, here's an interesting piece written by a cousin of President Obama about the fiasco of "green jobs."
http://www.washingtontimes.com/news/2011/aug/23/energy-obamanomics-no-green-jobs-and-plenty-of-red/

[Wing Nut]

Rocky,

Would you like some cheese with that whine? Seriously, the way to strengthen the middle class is economic recovery. Unfortunately, our current leader is a socialist idealist who has no idea how to save the sinking ship. Furthermore, he severely lacks the leadership skills necessary to do so (even if he had the answers).

BHO has got to go! November 2012 will be a great month in American history.

Take care,
WN

[Antonio Andolini]

You're welcome, Rocky. Actually, I just read a few newspapers to try to get "to the heart of the matter." I find it fascinating, and sometimes frustrating, how any given story can come out differently depending on where you read it, or (even more so)where you watch it.
No disagreement as to the critical nature of stewardship of pensions. The scary thing here is the mismanagement by the government guarantor. They collect premiums,like any insurer, but will not be able to pay on the guaranty? Wrong, wrong, wrong!