Question-and-Answer Session
Operator
(Operator Instructions) Representing Dahlman Rose, your first question will come from the line of Daniele Seitz. Please proceed.
Daniele Seitz - Dahlman Rose & Co.
Thank you. I just was wondering if I was looking at all of the unusual events that happened this year, would you assess that -- I mean, we should be considering them as non-recurring and obviously will be a positive for 2008? Or there are some issues like refueling and items such as those that should be taken into account for ’08? And I understand you don’t want to give us indications yet on 2008, but how much would you consider is non-recurring in the numbers of the last nine months?
Robert H. Young
Daniele, I think in general we would review -- we would feel that what happened both at Vermont Yankee and with these extraordinary storms are non-recurring, and there is always a probably you can have a problem with a power plant and there is always a probably that you can have more storm effect in any given year than you might predict.
But these were pretty extreme storms for us and our view is it’s not likely we would see that level of storm again on an annual basis. So certainly in general, we would say that these occurrences are one-time, or low probability of having a storm of the kind of storm we had in August or in April happening again.
Pam, do you want to try to answer the issue of how much did it cost us in terms of the earnings?
Pamela J. Keefe
Sure. The combined cost of the April and August storms was about $4.4 million. So one thing to consider is that in any given year, you might have a larger number of smaller storms, but certainly those two storms together were about $0.26 on an after-tax basis.
Daniele Seitz - Dahlman Rose & Co.
Great. Thank you. Please continue, I’m sorry.
Pamela J. Keefe
I was just going to say and then the VY outage and de-rate costs about $1.3 million, and as Bob indicated, one never knows but that was about $0.06 on a net after tax basis because we were able to offset that cost partially with about $300,000 of a regulatory liability.
Daniele Seitz - Dahlman Rose & Co.
Even if you were not taking into account any of the aspects of the rate case that is coming up, et cetera, this is the way you will be looking at the unusual events and I was also wondering, you were in New York not too long ago, so obviously they are not major, big new news, but do you think that after a certain point, you will say well, okay, obviously we cannot reach a settlement, we should go for the full rate case, or if there is no magic date about that?
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