Lobbyists prove influential in RI energy debate
At least $400,000 has been spent on lobbying this year by corporations with a stake in the debate as lawmakers hash out deals between power developers, energy suppliers and labor unions.
That's double the amount spent on such lobbying in 2005. That was before Governor Don Carcieri set a goal of providing 20 percent of the state's electricity needs through renewable resources.
Some Rhode Island lawmakers, including Senator J. Michael Lenihan, an East Greenwich Democrat, say work by lobbyists helps them make an educated vote on complicated legislation.
But others, such as Rep. Laurence Ehrhardt, a North Kingstown Republican, object to what they say are closed-door compromises and last-minute deal-making.
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Hydro One reports $1.1B Q2 profit boosted by one-time gain due to court ruling
TORONTO - Hydro One Ltd. reported a second-quarter profit of $1.1 billion, boosted by a one-time gain related to a court decision.
The power utility says it saw a one-time gain of $867 million in the quarter due to an Ontario court ruling on a deferred tax asset appeal that set aside an Ontario Energy Board decision.
Hydro One says the profit amounted to $1.84 per share for the quarter ended June 30, up from $155 million or 26 cents per share a year earlier.
On an adjusted basis, it says it earned 39 cents per share for the quarter, up from an…
