Utility overcharges add up

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

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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/

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