Utility overcharges add up

July 21, 2011 Updated Jul 21, 2011 at 7:23 AM EDT

July 21, 2011 Updated Jul 21, 2011 at 7:23 AM EDT

Second quarter profits at M&T Bank are up 70 percent. The rise is driven in part by a $42 million net after-tax gain from M&T's recent acquisition of Wilmington Trust. That was M&T's second largest acquisition in history. Yesterday, M&T reported net income earnings of $322 million or $2.42 per share, for the period ending June 30. M&T officials say upcoming quarters will include "significant merger-related expenses" in connection with the acquisition.

Imagine overpaying by thousands of dollars on your utility bill and never knowing it. Amherst consulting firm Troy & Banks says utility and telecommunications companies overcharge businesses by billions of dollars ever year. Troy & Banks pours through records to get refunds for customers. It just recovered another $17,000 dollars for the University at Buffalo from National Grid. The college's total refund now tops $83,000. It recovered more than $11,000 from National Fuel for the NYS Office for People with Developmental Disabilities of WNY. Other recent refunds include $5,000 for Bishop Timon-St. Jude High School from National Fuel and more than $190,000 from National Grid for Catholic Charities of Syracuse. For more information on Troy & Banks, you can visit their website: http://www.troybanks.com/

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.