New England Grid Operator Agrees To Cost-cutting

STEPHEN SINGER
Associated Press

HARTFORD, Conn. (AP) — New England’s electric grid operator has agreed to cut nearly $3 million in spending and end a pension plan for new employees in a multi-state settlement with officials who said spending was excessive.

In the agreement filed Monday with the Federal Energy Regulatory Commission, ISO-New England also promised to provide spending details to attorneys general and consumer advocates in Connecticut, Maine, Massachusetts, New Hampshire and Rhode Island.

ISO, based in Holyoke, Mass., agreed to explain budget details when necessary and highlight items about increases of more than 5 percent or $500,000, whichever is higher.

ISO said it was pleased to resolve the issue and defended its $165 million budget as “just and reasonable.”

State officials said ISO spending grew too much in the weak economy. The agreement must be approved by a judge.

 

Copyright 2013 The Associated Press.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Connecticut

WTIC Holiday Stores 2016
Hear WTIC Podcasts

Listen Live