Thursday, July 30, 2009

Energy Monopoly WPL Whines About Lower Profits in a Recession. They have the Nerve to Ask for Rate Increase from Customers.

Are private energy corporations really a part of our free market system? Give me a break.

How many industries can you name where a company that loses business decides to INCREASE their prices to their remaining customers? If you named our energy providers, you would be right.

Wisconsin State Journal: As more factories in southern Wisconsin announce plans to cut production or close, Wisconsin Power & Light is warning state regulators that its revenues next year will fall shorter than anticipated.
WPL now says higher costs and lower revenues could justify asking for an additional $18 million from electricity and natural gas customers.

WPL said it now expects revenue from electric and natural gas customers to fall $11.9 million short of previous estimates.

Martin Seitz, manager of financial planning and analysis for parent company Alliant Energy said in the testimony that WPL "recognizes the difficult economic conditions its customers face" and the company is committed to finding ways to "minimize the impact."

Remember, these aren’t company deficits. WPL is crying about not making as much as they thought they would. In a recession, is it a good time to raise energy rates. I wonder what a Republican would say about the price increases.

I have an idea for WPL: Operate within your budget and suffer like the rest of us by not making as much money during a recession. Am I crazy, hallucinating or really hearing these profit whores whining?

I’d threaten to buy my energy from someone else, but you know the answer to that, don’t you.

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