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SarahD

(1,732 posts)
Thu Jun 6, 2024, 03:39 PM Jun 6

I keep saying we need to get nukes away from investor owned utilities.

Delays and cost overruns can be built into the rate base. Since most utility companies are guaranteed a 10 to 15 percent profit, they have incentive to inflate expenses. A good way to.do this is by running up a large tab for nuke plants not yet built, and which may never be finished. Our government needs to get control of this and stop utility companies from making investments in wild speculation on nukes that are unlikely to ever produce electricity. This includes fusion.
https://www.utilitydive.com/news/biden-administration-launches-nuclear-working-group/718070/

7 replies = new reply since forum marked as read
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I keep saying we need to get nukes away from investor owned utilities. (Original Post) SarahD Jun 6 OP
investor owned utilities KT2000 Jun 6 #1
So true. SarahD Jun 6 #2
Same here KT2000 Jun 6 #3
Is it Cascadia? SarahD Jun 7 #4
Yes KT2000 Jun 7 #5
Yes. Vicki is cool. SarahD Jun 7 #6
Me too!! KT2000 Jun 7 #7

KT2000

(20,677 posts)
1. investor owned utilities
Thu Jun 6, 2024, 04:09 PM
Jun 6

should not be allowed at all. The incentives are to increase costs to customers as much as they can. Private equity firms are some of these investors. When capital projects are pursued, is the business steered to other holdings of the private equity firms? Enticements for investors are assets (capital improvements) and revenue (screwed customers). What then is the point of a utilities commission?

 

SarahD

(1,732 posts)
2. So true.
Thu Jun 6, 2024, 05:54 PM
Jun 6

My family owned water utility was recently acquired by a newly formed utility, which is wholly owned by a large natural gas company, which is wholly owned by an even larger holding company. Looks like rate increases of at least 50 percent, with future increases to come.

KT2000

(20,677 posts)
3. Same here
Thu Jun 6, 2024, 11:06 PM
Jun 6

Our family owned water system was bought by a subsidiary of a huge corporation. Our requested rate increase is 180% though they say it is 65%.

 

SarahD

(1,732 posts)
4. Is it Cascadia?
Fri Jun 7, 2024, 12:24 AM
Jun 7

They bought several small water systems in Washington, including mine near Sequim.

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