FortisBC Smart Meters are coming

[GordonH]

I suspect this will go over like a lead balloon: http://www.castanet.net/news/BC/127978/ ... sing-Jan-1

[sanfish]

I suspect this will go over like a lead balloon: http://www.castanet.net/news/BC/127978/ ... sing-Jan-1

Lol. Guy says "they strive to deliver safe electricity for the lowest reasonable price" , yet after all allowable tax deductions/deferments/inflated salaries ( not to mention their share of the 1Billion$ expenditure for smart meters) they made a net profit of just over $350 million in 2013 ( more in 2014). Why ever would rates need to be going up 3.5% now ( more after complete review by a regulatory board that no doubt has insiders on) with all the savings due to the efficiency of these new meters and all that 100 million in theft they'll be stopping ( let's not forget that these new "advanced meters" have half the life span of the older /cheaper/ dependable ones)? Seems totally legit

[slootman]

Its only 3.5% - still one of the lowest provincial rates, in many cases by a good margin. Our rate is half of that in Saskatchewan and Ontario. HALF. Be grateful for what you have.

'omg they now want to charge me 0.64 of the national average instead of 0.61!!!' give me a break...

Also, yes fortis may have made $350 million last year, but its an 11 billion dollar company, so its not like they're doubling in size. For the math challenged, they grew by around 3-4%. Context (or lack there-of) can help manage knee-jerk reactions to big numbers. Also note that fortis pays out a little over 3% in dividends to stockholders, so if you really think they're just ripping everyone off, why don't you take advantage of it and buy some stocks?

[goalie]

You are comparing to provinces that generate most of their electricity through coal(Sask) and nuclear(Ontario). nice try!

[slootman]

You are comparing to provinces that generate most of their electricity through coal(Sask) and nuclear(Ontario). nice try!

So? People are complaining about the amount they pay - we may less than almost everyone, and in most cases alot less.

[Rwede]

the big corporations make too much to begin with

Really. Not only do you know more than the executives and investors in these corporations, you also know what "too much" profit is.

What's your background in economics and finance?

[goalie]

Really. Not only do you know more than the executives and investors in these corporations, you also know what "too much" profit is.

What's your background in economics and finance?

Come on man you said we gonna save tons of money from grow-ops. What's going on ? I'm confused maybe I should smoke weed?

[Kelowner]

Come on man you said we gonna save tons of money from grow-ops. What's going on ? I'm confused maybe I should smoke weed?

I already answered your horrible argument in the other thread: viewtopic.php?f=23&t=59719&start=15#p1762639

[Rwede]

Lol. Guy says "they strive to deliver safe electricity for the lowest reasonable price" , yet after all allowable tax deductions/deferments/inflated salaries ( not to mention their share of the 1Billion$ expenditure for smart meters) they made a net profit of just over $350 million in 2013 ( more in 2014).

Their 2014 fiscal year isn't even over yet, however you know how much they made. Remarkable!

Considering that FortisBC Inc has made $33.8 million in the 9 months ended September 30 2014, "more than $350 million" for the 2014 fiscal year seems a bit implausible.

For the year ended December 31, 2013, they made $49.6 million. That's considerably short of your $350 million figure.

On an investment in assets of $2.004 billion, that is a return of 2.5%. You can get a better return on an ING savings account.

Carry on. Let's not let the truth get in the way of crying about "corporate excesses" though, okay?

http://www.sedar.com/GetFile.do?lang=EN ... rtisBC.pdf

[goalie]

I already answered your horrible argument in the other thread: viewtopic.php?f=23&t=59719&start=15#p1762639

You're just spinning the the story like a hamster wheel..."Instead of 3.5% it could have been 7%". When the proponents realize that they can no longer bang the savings drum then they shift into an other gear.

[Rwede]

Come on man you said we gonna save tons of money from grow-ops. What's going on ? I'm confused maybe I should smoke weed?

Read on, dude. http://www.fortisbc.com/MediaCentre/New ... ieves.aspx

◾Historically, 95 per cent of electricity theft has been associated with illegal marijuana grow operations.
◾Before BC Hydro started installing smart meters, electricity theft in B.C. was estimated to be at least 850 gigawatt hours per year – amounting to about $100 million in long-run energy cost.
◾BC Hydro estimates individual electricity theft ranges from 200 kilowatt hours per day to more than 1,000 kilowatt hours per day.
◾Smart meters and a smart grid are enabling the detection and deterrence of electricity theft, which will help BC Hydro reduce loss by 75 per cent.

[Kelowner]

You're just spinning the the story like a hamster wheel..."Instead of 3.5% it could have been 7%". When the proponents realize that they can no longer bang the savings drum then they shift into an other gear.

Code: Select all

7 - 3.5 = 3.5

Code: Select all

7 - 0 = 7

I'm not sure you understand math.

[Rwede]

I guess those of us who understand the benefit to ratepayers of switching to smart readers should take it under advisement that trying to explain said benefit to a bunch of stoned potheads is unlikely to be successful.

When we talk about 7 - 3.5 = 3.5 it's hard to explain...so many Doritos come broken in the bag that half a Dorito is an abstract concept.

[goalie]

Read on, dude. http://www.fortisbc.com/MediaCentre/New ... ieves.aspx

◾Historically, 95 per cent of electricity theft has been associated with illegal marijuana grow operations.
◾Before BC Hydro started installing smart meters, electricity theft in B.C. was estimated to be at least 850 gigawatt hours per year – amounting to about $100 million in long-run energy cost.
◾BC Hydro estimates individual electricity theft ranges from 200 kilowatt hours per day to more than 1,000 kilowatt hours per day.
◾Smart meters and a smart grid are enabling the detection and deterrence of electricity theft, which will help BC Hydro reduce loss by 75 per cent.

Your numbers make no sense. You said yourself its 100 million per year. Now it's 100 million in long-run ?
Why don't they disclose how much they are actually saving? Why do they need crimestoppers if the smart meters are supposed to stop theft. More holes than Swiss Cheese!

[goalie]

Code: Select all

7 - 3.5 = 3.5

Code: Select all

7 - 0 = 7

I'm not sure you understand math.

It wasn't a math question. Of course I realize you cannot grasp that.