Northeast Utilities Sees 4th Quarter ...

Northeast Utilities Sees 4th Quarter Gain In Profits

There are 38 comments on the Hartford Courant story from Feb 21, 2008, titled Northeast Utilities Sees 4th Quarter Gain In Profits. In it, Hartford Courant reports that:

In the recent quarter, NU earned $69.1 million, or 45 cents per share, compared with $54.9 million, or 36 cents per share, for the same period in 2006.

Join the discussion below, or Read more at Hartford Courant.

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kurt

Bristol, CT

#1 Feb 21, 2008
wish I was at NU for the employee bonus this year!!!

“In Dodd we cannot trust.”

Since: Nov 07

Rural Connecticut

#2 Feb 21, 2008
3...2...1...Let the bashing begin!!!
dan

Newington, CT

#3 Feb 21, 2008
Gee I'm having a flash back. Sounds just like Exxon/Mobils last report. Could it be that the public is getting it put to them again. Let's de-regulate something else there not stealing enough of are pay checks yet. It's time for another Boston Tea Party this has gone far enough.
AGAIN

United States

#4 Feb 21, 2008
NO SURPRISES HERE,THEY UP UPED THEIR PRICES!!!
BravoSix

Lake Hopatcong, NJ

#5 Feb 21, 2008
Like its not deserved?! Every business has the right to make money but profits like this and the oil companies have made, while the vast majority of people struggle is a crime, plain and simple!!!
NW Corner wrote:
3...2...1...Let the bashing begin!!!
Zanzibar Buck-Buck McFate

Newington, CT

#6 Feb 21, 2008
BravoSix wrote:
Like its not deserved?! Every business has the right to make money but profits like this and the oil companies have made, while the vast majority of people struggle is a crime, plain and simple!!!<quoted text>
A crime? Point to the criminal statute that's been violated.
dan

Newington, CT

#8 Feb 21, 2008
Crawl back into your hole. See what you have to say when they come knocking on your door
Zanzibar Buck-Buck McFate wrote:
<quoted text>
A crime? Point to the criminal statute that's been violated.
Gotta Love It

United States

#9 Feb 21, 2008
Does this REALLY surprise anyone? Guess those execs got their bonuses anyways.
phil osopher

New Milford, CT

#10 Feb 21, 2008
So what was the actual profit? Up 26% means what? Last year they made 6% and this year was 7%? Their operating costs are like 1.3 billion or sumpin'. What the dilly?
Zanzibar Buck-Buck McFate

Newington, CT

#11 Feb 21, 2008
dan wrote:
Crawl back into your hole. See what you have to say when they come knocking on your door
<quoted text>
Knocking on my door? Who? Idiot.
HA HA

United States

#12 Feb 21, 2008
Perhaps CL&P still needs their rate increase, why shouldn't they be as profitable as Exxon Mobil.
IcePrincess

Hartford, CT

#14 Feb 21, 2008
oh and this is a shock?
Where is Blumenthal

Watertown, CT

#16 Feb 21, 2008
Why is the attorney general not rescinding the rate increase that went into effect on Febuary 1? And why did NU want a decision on the rate increase before the release of its 2007 earnings? And why are the politicians so stupid to make a final decision before the release of the earnings?
Maybe if they had some business sense they would have read the 10Q's for the year and been able to figure out that NU would have plenty of net income to sustain its operations. I also recall the debate a few months ago about whether they could increase customer rates to pay for management bonuses.
hack

Bolton, CT

#17 Feb 21, 2008
DPUC tell us again why CL&P needed the latest rate increase.
BravoSix

Lake Hopatcong, NJ

#18 Feb 21, 2008
The DPUC is supposed to protect us from a monopoly industry, but they have been corrupted because of the political climate(corruption) Our politicians are bought and paid for by lobbyists!That is the crime, Zanzibar Buck-Buck McFate, smarten up!
hack wrote:
DPUC tell us again why CL&P needed the latest rate increase.
Jim

Wallingford, CT

#19 Feb 21, 2008
phil osopher wrote:
So what was the actual profit? Up 26% means what? Last year they made 6% and this year was 7%? Their operating costs are like 1.3 billion or sumpin'. What the dilly?
Using your numbers, 1% of $1.3 billion is $13,000,000.00 - that's THIRTEEN MILLION DOLLARS.... which begs the question, where did that money go to ?

Since: Feb 08

United States

#21 Feb 21, 2008
Ben Dover For Power wrote:
<quoted text>
I'm so tired of getting screwed at the pump, by the bank, by the power company....
By the way CL&P: Take those stupid ads off of the radio...you know....the "we care about you" ads.
Enjoy your f...ing profits!
The ONLY time they care is when you DON'T pay them, just ask all the people who have had issues where their meters and ask them how much the customer NO service reps at CT Lie & Plunder showed how much the care.
HC Here

Alexandria, VA

#22 Feb 21, 2008
Hopefully, they will raise the dividend for the shareholders. To those of you who want to bash NU or any oil company, I suggest you vote with your pocketbook. Noody is forcing you to use electricity or oil. Take this opportunity to go green. Alternatively, you could get with some of these people Obama wants us to "invest in" (e.g., feed, shelter, and clothe) and create an alternative to oil and electricity.
Dave

Granby, CT

#23 Feb 21, 2008
"Higher earnings for the year were fueled by new transmission projects - high-tension lines that carry power over long distance - and rate increases at several of NU's utilities"

We use less energy-they make more money by charging us more-what a concept!
Frank S

Wallingford, CT

#24 Feb 21, 2008
You are the same losers who want the state to bail you out of your miserable lives with handouts. NU is a for profit company, it's not their fault you people can't turn off lights and buy plasma tvs.
CL&P's rates are to cover costs plus give a rate of return, that's it. Despite the nonsense posted here, CL&P's rates have barely risen over the last five years or so.
Your total bill is going up because CL&P doesn't own generation anymore.
I don't work for the company, but I do own my own business. I don't expect handouts from the government and I have no fault with NU's earnings. I do have a problem with a flawed electric market in CT, whereby our prices are dictated by the market. Want to lower prices? Let CL&P and UI generate electricity again!

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