* Operating income fell 1.4% to $844 million
* Operating margins declined to 2.8% from 3.0% a year ago and from 3.2% two years ago
* Net income (after net interest expense and income taxes) fell 5.7% to $515 million.

The inaccurate readings are attributed to the energy meter’s design, together with the increasing use of modern (often energy-efficient) switching devices. Here, the electricity being consumed no longer has a perfect waveform, instead it acquires an erratic pattern. The designers of modern energy meters have not made sufficient allowance for switching devices of this kind.

When they dismantled the energy meters tested, the researchers found that the ones associated with excessively high readings contained a ‘Rogowski Coil’ while those associated with excessively low readings contained a ‘Hall Sensor’. Frank Leferink (Professor of Electromagnetic Compatibility at the UT) points out that “The energy meters we tested meet all the legal requirements and are certified. These requirements, however, have not made sufficient allowance for modern switching devices.”

Let’s sum all this up:

* The Urkonazis completely close down the unofficial border with Novorussia
* Russia recognizes Novorussian documents
* The DNR and LNR nationalize all the Ukrainian industry in the Donbass
* The Ukronazis declare that the line of contact is now to be considered a border
* The Novorussians declare that the Russian Ruble is the only legal currency in Novorussia
* The Novorussians will now export their entire production of coal/anthracite to Russia
* All the factories in Novorussia will no longer pay taxes to Kiev

I don’t know about you – but to me this sure looks like the DNR and LNR are cutting off their last ties to the Ukraine and the the junta in Kiev appears to go along with this plan.