Easing energy prices should ease Pennsylvania bills
New figures released by the state Public Utility Commission show the difference between current market prices for electricity and the capped rates paid by millions of Pennsylvanians.
Rate caps expire in 2010 for PPL customers and in 2011 for customers of four other major utilities.
If the caps had expired the week of July 6, Peco Energy's residential customers actually would have seen their bill drop by almost 5 percent on average. Metropolitan Edison customers would have seen a 26 percent jump and Pennsylvania Electric customers a 22 percent increase.
PPL and Allegheny Power already purchased power for use after caps expire, ensuring average increases of 30 percent and 11 percent, respectively.
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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…