NE grid operator agrees to cut costs
The operator of New England's power grid has to cut its spending by about $3 million and make other cutbacks to satisfy state officials who said the organization's spending grew too fast.
The Associated Press reported that the cuts from the Holyoke, Mass.-based ISO-New England's $165 million budget include ending a pension plan for new employees and eliminating the cost of golf tournaments and other charitable contributions from its rates, according to an agreement filed with the Federal Energy Regulatory Commission.
The action was brought by the attorneys general of four New England states, including Maine, and other consumer advocates. Connecticut's consumer counsel, Elin Swanson Katz, told the news service that the grid operator's budget had increased more than one-third in the past four years, which she and other state officials argued was unsustainable.
The grid operator also agreed to explain details of future budgets to states when necessary, and to highlight budget item increases of more than 5% or $500,000, whichever is higher.
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