Past Town Reports
Templeton Annual Town Report of 1998, on page 30, the report of the commissioners of Templeton Municipal Light plant states "municipal utilities are community owned and operated and state laws & regulations governing utilities have always given local officials the control over most utility affairs."
Page 32, statement of cash flows: For the purpose of the statement of cash flow, the light dept. considers only unrestricted cash on deposit with the town treasurer as cash & cash equivalents.
Taxes: The department is exempt from income taxes and property taxes but pays amounts in lieu of taxes to the Town of Templeton. So why fight so hard against an agreement? Why be so against the term PILOT or payment in lieu of taxes?
The more you look, read and hear, the more you see how much the Templeton Municipal Light and Water Plant is tied to the Town of Templeton so why would the commissioners fight so hard to keep say a water dept. budget out of the hands of town meeting yet complain that town bond rating or lack there of is affecting their (water dept.) borrowing power?
Supposedly, from May 2011 to July 2014, Templeton Light has received $501,676.00 back from Brodie Mountain thru wind renewable energy credits and all of this "cash" has been put back into power supply costs as credit against the project's capacity costs. I read that as no real money has changed hands and as capacity costs go up, those credits are worth less and less which is kind of like buying stock and rather than paying a dividend to the stock holders, the company just issues you a few more shares of stock and either the stock price goes down or the costs to manger your port folio goes up, meanwhile you are on food stamps. Take those wind credits in the form of cash and use the funds to pay Town of Templeton a PILOT in the form of $165,000.00 per year and thank you very much for your support!
Jeffrey Bennett
If the wind renewable credits were used like they said they would be our rates would make the ratepayers revolt and our bills would be higher than the Princeton rates. When the REC credits stop what will they do to reduce the rates ? Will they have another study for 18,000.00 done and again leave the rate for low income people out like last time. When the Turbine quits and there is no money set aside like we should have ste aside how will we pay to fix it. Why is the cost to maintain it jumped over 100,000.00 per year? Will the new lease agreement include only 2 people?
ReplyDeleteThe rates are being fixed with money that should be saved for repairs and or pay the millions in loans off early.
Thats what they said the use of it would have to be.
Just one more thing that should not be like this in Templeton.
Lately, I have been thinking that our town may be too small to play with the big boys like National Grid, or Until. That may be where the Rec Credits go to prop up our image. Can you imagine the horror poor J.D. faced when he learned TML&W could not not get any credit !! Boo Hoo !! The light and water are not part of the town unless they want something for nothing, and they do not want to pay their way !! It must be nice to give our raises and buy new trucks while everyone else starves. It will all come out in the wash, and the water is going to be pretty dirty. J.D. better brace himself Bev...
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