Post by Don on Dec 6, 2016 6:16:51 GMT -5
Own a utility monopoly, and the politicians who set the rates.
Ah, yes, the political class, always looking out for the little guy.
So they can pick his pocket in some boring, predictable way and give the proceeds to their buddies.
I'm sure everyone out there is getting that same rate on your passbook savings account, right? Or at least something within a couple points, owing to diseconomy of scale?
No?
Hmm...
Utility Monopoly Gets Unanimous OK From Government Panel for Unwarranted Rate Increase
Under today’s ruling, FPL (Florida Power & Light) shareholders will receive an ongoing return on their investment (ROI) of up to 11.6 percent. “Even before this ruling, FPL stood to make $1.6 billion in profit over the next four years. Now FPL gets even more,” Johnson said. AARP believes the 11.6 percent ROI is unreasonable and well above the national average of 9.5 percent for similar-sized public utility companies.
“AARP members in Florida can only dream of earning these kinds of returns on their investments,” Johnson said. “This ruling is an early Christmas present for FPL – and Florida consumers are getting stuck with the bill.”
Johnson noted that the settlement agreement approved today by the PSC was worked out between utility companies and large utility customers representing a minority of the organizations that formally intervened in the rate case.
“By putting its stamp on a settlement agreement worked out between FPL and large-scale utility customers –but vigorously opposed by AARP on behalf of consumers age 50-plus – the PSC has once again OK’d a side deal that benefits utility companies and large utility customers at the expense of Florida ratepayers, especially those on fixed incomes and of modest means,” Johnson said.
Under today’s ruling, FPL (Florida Power & Light) shareholders will receive an ongoing return on their investment (ROI) of up to 11.6 percent. “Even before this ruling, FPL stood to make $1.6 billion in profit over the next four years. Now FPL gets even more,” Johnson said. AARP believes the 11.6 percent ROI is unreasonable and well above the national average of 9.5 percent for similar-sized public utility companies.
“AARP members in Florida can only dream of earning these kinds of returns on their investments,” Johnson said. “This ruling is an early Christmas present for FPL – and Florida consumers are getting stuck with the bill.”
Johnson noted that the settlement agreement approved today by the PSC was worked out between utility companies and large utility customers representing a minority of the organizations that formally intervened in the rate case.
“By putting its stamp on a settlement agreement worked out between FPL and large-scale utility customers –but vigorously opposed by AARP on behalf of consumers age 50-plus – the PSC has once again OK’d a side deal that benefits utility companies and large utility customers at the expense of Florida ratepayers, especially those on fixed incomes and of modest means,” Johnson said.
So they can pick his pocket in some boring, predictable way and give the proceeds to their buddies.
I'm sure everyone out there is getting that same rate on your passbook savings account, right? Or at least something within a couple points, owing to diseconomy of scale?
No?
Hmm...
