He also captures a great quote from PSEG's recent earnings call.
"Our assessment is that it's difficult in the current market to find projects that meet our threshold for adequate returns," Caroline Dorsa, the company’s chief financial officer told analysts on a conference call. "Some of the returns that we see some of these solar projects clearing are not the kind of returns that we think make senses for shareholders on a risk-adjusted basis."
The utility business is no longer about providing a needed service at just and reasonable rates to benefit consumers. The main objective has become to provide "adequate returns" to company shareholders.
That's what is behind FERC Order No. 1000, the push for federal control of project siting and current transmission incentives. FERC is tasked with ensuring that electric rates are just and reasonable, however they have been utterly captured by the industry they are supposed to regulate.
This costs you money every month when you pay your electric bill. It also expects a sacrifice on the part of those unfortunate individuals who become ground zero for new transmission projects. And it's being done simply to increase corporate shareholder returns.
Tell FERC what you think.