Tell PUCO: No To AEP/First Energy Profit Guarantee

They have some nerve!

I'm referring to a pair of large electric utility companies in Ohio.  They want the Public Utilities Commission of Ohio to allow them to charge consumers above-market rates for the next eight years.

AEP and First Energy continue to operate some of the oldest, dirtiest, most-polluting coal-burning power plants in the country.  Although the writing has been on the wall for decades, the power companies have resisted doing anything about it (significant emissions reductions, conversion to alternative fuels, more renewable energy) until it's too late.  Now they're whining about losing money at their old plants or closing them altogether, and blaming the situation on anyone except themselves.

Some of us have already paid for this in health costs.
AEP and First Energy want us to pay again.

Their "solution" is a bailout -- a profit guarantee for their old plants paid by consumers to the tune of $5.5 billion in higher electric bills over the time frame.  Their shitty old plants will be "modernized" and all ratepayers will cover the cost.  This, they argue, will protect us from future "volatility" and "rate spikes."

I'm sorry, but f*** these bastards!  AEP and First Energy are "public" utilities but are operated privately.  Their top executives are compensated lavishly.  Profitability and shareholder return are their prime concerns.  At every turn, their desire is to socialize the risks and costs, while privatizing their profit.

They expect their customers to pay for every conceivable circumstance, fluctuation and regulation.  You want cleaner air?  You pay a surcharge for smokestack scrubbers.  You want more renewable energy?  Here's a little fee for that on your bill.  A windstorm or icestorm brought down a bunch of our shitty old power lines?  We'll charge you for repairs to our ancient infrastructure.  So what if it's Edison-era technology?  Why should we pay to upgrade?  It's cheaper to just cut down your trees.  You want electricity, don't you?

I'm fed up with these greedy liars.  Asking us to pay for their negligence is unfair and it's bad policy.  Neither AEP nor First Energy is going to go out of business, no matter what happens with their rate proposal.  Both are sufficiently profitable.  Maybe their stock prices go down a bit.  Maybe dividends suffer a little.  Maybe the CEO's take pay cuts.  Suck it up!  I'm tired of paying for their stubbornness and lack of vision.  Time to put some "public" in public utilities.  This one ought to be on the power companies for a change.

The links are to the PUCO comment form, and also an online petition, if you're interested.  For the PUCO, the issue is known as the Affiliate Power Purchase Agreement (PPA).

https://www.puco.ohio.gov/puco/index.cfm/contact-us/contact-us-form/?intype=comment
http://ohiocitizenaction.nationbuilder.com/bailout

(Surprisingly, Buster finds him in agreement with both the Columbus Dispatch and former PUCO chief Todd Snichtler, a sneaky little Republican SOB if ever there was one.  Will miracles never cease?)