April 10, 2008 - 2:33pm
Sun burn
By Debbie Holtz
Tags: PSE&G
Did you hear about the latest PSE&G rate increase approved by the BPU on Monday? Probably not. That's because only the Ledger reported the story, inside its business section.
Here's the topline:
- The state has a policy goal to generate at least 20 percent of its electricity from renewable sources by 2020.
- Despite double-digit rate hikes on electricity, the BPU approved a solar pilot program that allows PSE&G to loan low-interest money to homeowners and business to add solar to their homes and businesses.
But there's a catch --- PSE&G's 2 million customers will pay a surcharge on their monthly electric bills to cover the utility's cost of running the program and to guarantee it a "return on investment of 9.75 percent."
I guess the state's other newspaper editors aren’t too charged up about NJ’s mega-utility raking in more dough from ratepayers after it just posted a 62 percent jump in earnings. I’m sure it doesn’t matter much to the average readers struggling to pay their mortgage and property taxes?
Shocking.
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Why not?
PSEG is a for profit company. Why should they not make a profit?
"The only man who never makes a mistake is the man who never does anything."
--Theodore Roosevelt--
Maybe PSE&G can help Queen Fox and her Posse
pay their legal bills in defense of the whistleblower...
Tom Moran is doing a GREAT job there
he made sure the story was buried....
Spend Spend Spend
Ahhh the democrats and their spending of money for any good cause (as defined by them) that comes down the road. The "Global Warming Response Act" is a feel good way to address the POSSIBLE implications of climate change (they'll be changing the name from global warming soon).
Not sure who told Democrats the earth should be in stasis (Al Gore?). I'm sure the humans that used the land bridge to get to north america, and then found it gone wondered if they were responsible with their carbon footprint. I'm sure the non-human animals are concerned about their carbon footprint as their flatus is expended. Mother Earth knows what she's doing far better than "humans" could hope.
Just another tax on NJ for political expediency under the guise of doing good (typical democrat strategy). Another reason to leave as soon as possible.
The Most Under-Reported NJ Boondoogle in History Is
Remember the Market Transition Bonds?
After the billions PSEG received during the transtion to a competitive energy market (insert uncontrollable laughter here) you would think rates would never have to go up again. Oh yeah, I forgot, those "stranded-asset" bond proceeds went right to the shareholders. Ooops
PSEG is a for profit company
A public utility has been defined as "a business that provides an everyday necessity to the public at large." The public utility is regulated by the state, thus the BPU. The public utility is permitted to charge reasonable rates and make a reasonable profit.
Why my friend whould you think that 62% profit is reasonable and that an increase in rates is deserved? Perhaps in reality you are the lucky Mr. Izzo making $1.4 million a year "running" a public utility. Or maybe you are on the BPU trying to justify the everyday thievery.
LEGISLATION MUST BE INTRODUCED FOR A FULL INVESTIGATION OF THE BPU AND MS. FOX SHOULD BE PUT ON ADMINISTRATIVE LEAVE WITHOUT PAY UNTIL THE INVESTIGATION IS COMPLETE.
And, what does the quote from Roosevelt have to do with the rate increase or any utility?
Corzine, do your job and get rid of Queen Fox.
Global warming is a myth.
Al Gore is an idiot and global warming is a myth. PSEG is going along with it as a corporate policy of showing how "nice" a large utility can be. I for one would throw the CEO Rizzo out and find a real man who would make the company everything it should be, a low cost producer of power to drive the revival of this state!
"The only man who never makes a mistake is the man who never does anything."
--Theodore Roosevelt--