Publicly owned utilities have historically had lower costs and better local control through locally-elected boards. Investor-owned utilities, particularly those foreign-owned such as E.ON exist only as a cash register for stock holders who have no concern for the community in which the utility operates. Enriching the investors is the goal. Profit is job one.
Public Service Commissions, as in Kentucky, set rates for investor owned utilities. The commissions are unaccountable, appointed (unelected) boards that serve only the company wishes for profit, and do not exist to promote the well-being of the power grid, transmission system or customer.
It is my opinion a publicly owned utility would serve the community's interest in future power generation technologies such as wind, water and solar. As it currently stands in Louisville with E.ON, one can expect to rely on filthy coal-fired power plants until the end of time. Or the end of coal. And with all the power being transferred via exposed, overhead lines that are vulnerable to the crazy weather patterns we are experiencing.
A government-owned utility isn't the answer. Neither is what we have now.
Leo Weekly's Stephen George has written an excellent article on the idea of a municipally-owned electric utility that should get your attention. Read it HERE.
If you aren't angry about this situation, wait until you get your next bill.
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