Preliminary storm damage estimates include 75 poles, 140 locations that required replacement of primary lines, hundreds of locations that required replacement of secondary lines, 200 tree trimming locations, and 23 transformer replacements.
Current estimate for the storm is approximately $3M. Disaster threshold in Shelby County is $3M, and that has been reached. We must now reach the disaster threshold for entire state, which is $7M.
In order to get FEMA assistance, the State must be declared a disaster by TEMA. We are closely monitoring the situation with TEMA as they continue to get costs across the State. Once the costs are accumulated and TEMA determines the storms should be determined a disaster, it has to go through a process of the Governor requesting the President that the State be declared a disaster in the affected areas.
If a declaration is made, we are reimbursed approximately 75% of eligible costs. Any costs incurred by MLGW would come out of our operating expenses and would have no affect on rates.
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2 comments:
"Any costs incurred by MLGW would come out of our operating expenses and would have no affect on rates."
Again, I have trouble with the way you state economic facts.
This sounds like a pledge to absorb any unfederally-compensated costs without raising rates. Also, it should be "effect" in that context.
Grinning at "unfederally." LOL
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