....And of course this isn't inflationary.....:

NH: Utility seeks 18.4 percent rate increase to cover rising fuel costs

By Associated Press, 9/15/2000 18:46

CONCORD, N.H. (AP) Blaming ''extraordinary high costs of oil and gas,'' Granite State Electric Co., on Friday asked state regulators for an 18.4 percent rate increase.

The utility, which serves more than 37,000 customers in 21 New Hampshire communities, asked the state Public Utilities Commission for the rate increase effective Nov. 15.

If approved, a typical residential customer using 500 kilowatt hours or electricity would see the monthly bill rise by $8.79.

''We know this is unpleasant news for our customers,'' said William Sherry, the utility's executive vice president

''However, this increase is solely driven by the extraordinary high costs of oil and gas. Oil and natural gas prices have doubled over the last 12 months. Oil prices have not been this high since the Gulf War in 1990 and natural gas prices are reaching all-time highs,'' he said.

The utility estimated that it has spent $1.4 million in increased power costs. It said the utility does not profit from increases or decreases in power supply costs, which are passed on directly to consumers.

http://www.boston.com/dailynews/259/region/Utility_seeks_increase_to_cove:.shtml

-- Carl Jenkins (Somewherepress@aol.com), September 15, 2000