ALBANY -- National Grid announced Monday morning it will eliminate 1,200 jobs as it seeks to reduce its costs by $200 million.
The move comes after the London-based utility did not receive approval for a $360 million electric rate increase for its upstate New York operations. Instead, state regulators only approved a $113 million increase.
Tom King, the president of National Grid's U.S. operations, will keep his job. The cuts are expected to take place by April as part of a restructuring of how the company operates.
Kenneth Daly will become president of National Grid's New York operations.
National Grid owns gas and electric operations throughout New York and New England. Its U.S. headquarters is outside of Boston.
It is unclear how many jobs in New York will be eliminated.
"Right now, we are using more resources than our revenues can support, and that is simply no longer sustainable," King said in a news release.
Imagine that, a company doesn't get the money from the government they want, so they have to find another way to operate. They know they can't raise the price (ironically due to the fact that the government controls that, too), so they cut costs by cutting jobs. This is actually what is supposed to happen, and people say they're "throwing a tantrum."
Welcome to the free market, sort of, National Grid.
One thing you can count on, is that it's not going to be the executive positions that are eliminated. National Grid has taken the stance that it is cheaper to fix something after it's broken, than to prevent the break in the first place. Remember when your electricity went out during that ice storm?
Yeah, it was because they don't have crews trimming back the trees anymore.
Once upon a time, Nimo crews used to sit in their trucks, at the ready, when such a storm was predicted. Now? I don't regret spending $3500 (price installed, it runs the whole house) on my generator, because that storm almost destroyed my house, not to mention the fact that it was a complete bunch of anti-fun.
And what in all of hell is a "delivery charge"? After 2002, did they start delivering your electricity via UPS? For one thing, those unmaintained poles are on county land, that you pay for.
But nobody says anything. They're willing to march on Washington complain about gay rights (which I'm sorry, I just don't care about one way or the other), but a foreign owned company calling the shots on a very important part of our countries infrastructure seems to to be A-OK.
Seriously, if the NY electric infrastructure goes down, there are going to be effects of biblical proportions. It will effect the entire state, if not the whole country, and we effect the entire world.
How in all of hell did we entrust such an important aspect of our country's well being to a foreign corporation? Oh wait, who was in charge back then?
"Delivery charge"? Go fark yourself. I can run the whole house on the same cans from my barbecue grill.
The utility companies, telephone, electric, gas, and cable pay taxes on every pole and foot of wire and pipe that is in use and that adds up to a very high tax bill. The trees in the power right of way in the rear of my house were cut back an additional 20' and not just branches but whole trees were taken down to prevent power outages. There has also been an electrical company called Hawk eye electric that has replaced just about every transformer in town over the last few years and the gas company replaced the gas meters not too long ago. I don't like the cost of my gas and electric bill either but until the power companies can put a few nuclear power generating plants on line and cheaper ways of transmitting electricity are found things aren't going to get any better.
I need approximately 3-4 more solar panels before I can take my house off "the grid" completely. Right now, I'm running 70% of my daily energy usage from the existing 6 panels and battery array. I've also installed a solar "pre-heater" for my electric water tank. 220vt appliances are the only thing we can't run from solar power. Note: This is NOT my house in Rotterdam.
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