Newsletters > July 2006 Customer Newsletter
News from the Northeast Power
This newsletter is to keep you informed of how the Board of Directors, Management and Employees of the Northeast Power are working to serve you. We want to continue to make ourselves available for your comments and suggestions. Please let us hear from you by calling 800-750-9277.
Old and unused services will be retired without notice
It cost a minimum of $18,000 per mile to build new single-phase electric lines and a minimum of $35,000 a mile for new 3-phase lines. New line can cost more depending on terrain and engineering conditions. The District operates nearly 2800 miles of line. With the increases in the cost of metals, wood and all materials it is becoming more important to take down services that are not being used. In doing this we can hold rates down and be more efficient by using idle materials like pole top transformers elsewhere on the system. Taking down unused line will also lessen exposure to lightning, animals, trees and other causes of outages. The District considers any service for which there hasn’t been an electric bill paid within the last 12 months as an idle service. After 12 months of no revenue we may at our discretion remove our equipment without notice.
Fiscal Year 2005 Audit Results
For your review, here are the FY 2005 Balance Sheet and Income Statement. Again this year the auditors told the Board of Directors that management is being diligent in keeping the District’s financial records and that the financial statements below fairly represent the financial condition of the District. If we can answer any questions related to this information, then please call us.
The Northeast Power had its best year ever financially in 2005. Even without a rate increase in since early 2003, the District invested $2.6 million in new electric lines and facilities in 2005, continued to absorb price increases in the cost of wholesale power, fuel, wire, poles and labor, and retired $406,000 in debt. The District’s equity remains over 70%.
Read more...Click here for a printable PDF version of the July 2006 Newsletter
View this and previous newsletters at our website www.Northeast Power.com