2006/03/15

Has your power company fleeced you today?

OK, I live in California. Meaning that after living through the 2000-2001 energy crisis; Having been through months of rolling blackouts; Having been screwed to the wall by the energy traders; Having been screwed to the wall--again--by FERC, it would be hard to get more blood from this stone. And yet here come the electric utilities with another scheme to line their pockets at the expense of the ratepayers.

The N.Y. Times reports -
Many electric utility companies across the nation are collecting billions of dollars from their customers for corporate income taxes, then keeping the money rather than sending it to the government.
In this scheme, the utilities use losses from their subsidiaries to offset the taxes that they'd ordinarily pay--the problem being that those taxes are typically charged back to the customers, and so the utilities just pocket the cash. Sneaky huh?

Sort of reminds me of how PG&E's parent company cut the utility loose to go bankrupt, while they kept their coffers full and even moved money to their own accounts as they prepared PG&E for Chapter 11.

10 Comments:

And this is legal? Oh, I forgot, were under a Republican regime. So mush for corporate responsibility.
A land full of people... surrounded by criminials... with a ignorant killer at the helm.

Is there a problem?
Is there a problem...ah, yeah...

My little gas bill went from 14 dollars a month, cause I use minimal amount (apt life)....and it is cheaper than electric..and it went up to $131.00/month....
yup, ah, that is quite a jump for just a little gas fireplace...unreal....( I called the whoring company on the phone- "it is due to Katrina"...yeah Right?!)

Thanks for posting on this , I had no idea that Pg&E went bankrupt...that is interesting- I thought they were raking in huge amounts...
Who is PG&G's parent company?
Sorry, PG&E ...
Anita, it's a holding company called PG&E Corp. Here's a link to an article that talks a bit about what happened.
Actually I fleeced them today. Called in sick. They'll live.
You work for the power company!? Can I have a $30,000,000 rebate on electricity? :-)
Enigma! How can yours be so cheap?!? Mine's like 56 a month and I live in an apt! Maybe it's 'cause it's an old bldg.
Enigma! How can yours be so cheap?!? Mine's like 56 a month and I live in an apt! Maybe it's 'cause it's an old bldg

One word in-sul-la-tion. :-) E4E lives in the upper midwest, if I'm not mistaken, and up there this cool stuff in their walls. In L.A. contractors stuff the wall with...air.

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