National Pride National Greed

[CPOPE]

British power company National Grid on Friday completed its acquisition of U.S. utility KeySpan after receiving final approval from New York State regulators earlier this week.

The combination creates the nation's second-largest utility, with 3.3 million electricity customers and 3.4 million natural gas customers in New York state and New England.

With its $7.3 billion takeover of KeySpan Corp. completed yesterday, British energy giant National Grid PLC plans over the next four to six months to begin putting the National Grid name on bills, trucks, and the Dorchester gas tank alongside the Southeast Expressway, officials said. This prominent KeySpan property overlooks the city of Boston. The Hub of the universe.

Don't believe calculated savings from this merger will be an overall cost savings. "Higher ratings would be possible over time if NG materially improves its financial profile," said Standard & Poor's analyst John Kennedy. Worse than Enron we are now selling the domestic Transmission & Distribution electric and gas infrastructure. This deal puts ownership of the NE/NY natural gas and electrical grid in foreign hands.

The sad overall fact is Jobs will be reduced profits shipped overseas. Safety will suffer through forced merger changes of combining policies, procedures, equipment and work practicies of different operations.

An enhanced early-retirement plan offered to KeySpan and National Grid workers this year "was very well-received, and at this point, it looks as though we will be able to achieve the reductions through voluntary programs and attrition," National Grid spokeswoman Jackie Barry. Aside from the political spin you've got to realize National Grid management workforce are "employees at will" and the union repersented workforce is fractured between multiple brotherhoods and locals that it is not effective.

THe Redcoats are here! Don't shoot until you see the whites of their eyes

[loodvig]

Where you been? The Grid has been buying up things for years now. And I bet that they're not done yet!

[Stinger]

I keeping hearing rumor that NG wants to buy northeast untilities, public service NH and & CMP. If that happens we better buy some vasoline, it won't hurt as much when they shove it up our butts in rate hikes.

[loodvig]

If you think about it, it makes sence for them to look at those companys. NG was and is a transmision company. They were in England. Then they bought New England electric and then NiMo in N.Y. They only wanted those companies for the grid system. The power plants were sold off real quick. If you look close at the Keyspan deal I think you'll see N.Y. state gas and electric in the fine print somewhere. You'll see them owning the whole northest grid system some day! JMO

[CPOPE]

Where you been? The Grid has been buying up things for years now. And I bet that they're not done yet!

Where have you been? Working alone as a troubleshooter till you gave up the ghost and retired.

They have and continue to be buying stuff up like they have a tapeworm, Massachusetts Electric, New England Power Service Co, Granite State Electric, Narragansett Electric, Nantucket Electric. The Former Eastern Utilities Assoc Co's of Blackstone Valley, Newport Elect, Fall River Gas& Elec. Brockton Eastern Edison Niagara Mohawk and Now Key Span Long Island. On and on they go.

Loodvig, I'm sure we spent some time together over at Mass Elec. I started in Hopedale back in 88 and moved over to NSTAR couple of years back. I mean no disrespect with the trblshooter comment. The point of this forum is to suggest articles for Powerlineman Magazine.

I'd like to see the mag publish an article about foreign takeover of US infrastructure. It's sad and we should consider it. The US manufacturing base is gone, now the #2 utility in the Americas is British owned and operated. It's right up there with the Arab Emirates getting the Homeland Security contract for US port security.

Where does it end?

[loodvig]

'Loodvig, I'm sure we spent some time together over at Mass Elec. I started in Hopedale back in 88 and moved over to NSTAR couple of years back. I mean no disrespect with the trblshooter comment.'
Not to worry as I'm pretty thick skined.
Better watch out because there was a rumor, maybe 2 years ago, that the GRID was sniffing around NStar! I also agree that this subject would be great for the mag.

[Jonodownunder]

I worked for the Grid in England for 16 years as a transmission Lineman doing mainly maintenance work.They want to become the biggest utility in the world and it wouldn't suprise me if they didn't some day.
I would say their safety polices and procedures are 2nd to none.
The only problem back in the uk was that they cut down all the crews over time and all the big jobs went out to contract.We were left doing all the patrolling and shit stuff like that.It was a good job if you like that kind a thing but I prefer real work so I moved on.

[mrnick]

they just bought/merged with KeySpan...

they are making their way slowly to the top I guess