ROCKINGHAM — RE: “TransCanada seeks to lower taxes for dam,” The Commons, July 18:
The value of the Bellows Falls Dam is a long-term proposition, not something that should fluctuate year by year with, say, the price of natural gas.
If energy-generating properties weren't of great value, Entergy wouldn't be fighting to keep Vermont Yankee open beyond the end of its designed life, and wind developers wouldn't be coveting Vermont's ridgelines.
TransCanada, a corporation that, as the article notes, does not honor its promises, should have its dam condemned and be compensated at the assessed value it's arguing for rather than the town's realistic valuation. Then the dam can be sold to a more honest corporation or run by the town.
Voters here made a huge mistake several years ago in letting TransCanada purchase the dam. Reversing that mistake should be our immediate priority.
Energy will become increasingly scarce in the next decade, and this dam will be a fine investment for whoever owns it. It should be valued as such.