From the LVRJ: Electric ratepayers are mad as hell.
That was the message Tuesday as the Public Utilities Commission of Nevada held two consumer sessions at Cashman Convention Center. The sessions gathered consumer comment on an 11.5 percent rate increase power utility NV Energy has requested....
The reason for the rate increase?: The utility wants an 11.5 percent general rate increase, which would push the average monthly bill from $140 to $147. The company says it needs the hike, which would raise $249 million in additional annual revenue on a current revenue base of $2.2 billion, to pay for expansion of the Harry Allen generating station north of Las Vegas, and to raise its allowable investor return from 10.5 percent to 11.25 percent.
An 11.25% return on their money? That would be great, but do it the old fashion way- earn it- not make your customers pay for it. Earn it by cutting utility costs, trimming administrative costs and more. Cut down on waste and other ways to make your 11.25% return. Most people are not getting more than 2-3% unless they happen to get very lucky in the stock market, so why would the government mandate the utility get a return of 11.25%
Further, part of reason for the rate hike is also because of Crybaby Harry Reid and the Obama administration. They are demanding that we use more green energy even though it is more expensive than coal and even though coal is burning cleaner than ever. They also demand that NV Energy and other utility subsidize people who make their homes and businesses more green. Why should I have to do this? Let the homeowner do it or if it is that important, then let the government pay for it- not other utility customer. So, when people complain about the rate increase, they need to thank Harry Reid and Shelly Berkley, Dina Titus and the other liberal Democrats who just want to take more of your money- either through taxes or through higher utility rates.
Over Time with Bill Maher, May 17, 2013
3 hours ago