Reduce profits on New England power line projects, judge rules
A federal judge has ruled that power transmission companies in New England should make a lower profit on power line projects. Supporters of the reduction say the ruling, subject to federal approval, is a win for businesses and residential ratepayers.
The Associated Press reported a ruling by Administrative Law Judge Michael J. Cianci Jr. would cut the allowed profit on transmission projects in New England to 9.7% from 11.14%.
Massachusetts Attorney General Martha Coakley led the effort to reduce that profit margin in a complaint to the Federal Energy Regulatory Commission in 2011.
After the ruling Wednesday, Coakley estimated such a reduction could save New England ratepayers $145 million by 2017.
Regional utility operators told the AP that federal regulators still have several steps to take before the profit reduction becomes law, and made the case that the decrease could hamper future infrastructure investments.
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