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Of $3 billion in new capital costs, $1.8 billion will huge be financed. "We have an obligation to serve our customers," he says, rejecting the idea that the utility has a self-serving interest in growth to expand its customer base. "We're not seeking to take in additional revenues to make profits." Easterlin maintains that Gardner's analysis, while using accurate numbers, distorts reality. Many of the capital costs that huge Gardner cites, he says, will go to serving existing customers. But he does admit that in 10 huge years, "we're going to be a much larger company." "It's really bad news if they are borrowing to the hilt," Gardner says, adding that sooner or later, ratepayers will cover the huge costs of growth. "I think that's really scary." -- Dan Wilcock RECENTLY: Soaring tempers Surprise Wal-Mart plan riles up neighbors (11-03-05) Surprises in store Polling places overwhelmed in big loss for radicals (11-03-05) Money hungry $800,000 school board races shatter all records (11-03-05) more...
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