Investor-Owned Utilities Make Money on Their Investments
Xcel’s load is flat, yet profits are going UP and UP! How?
(AWESOME FOR SHAREHOLDERS…not so good for us…)
Profits go up because of all those rate increases for Xcel and their bottom line. Why all the rate increases, (especially if renewable energy is cheaper all the time)?
More and more money from poor people to “feed” the monopoly!!
Xcel expenditures planned in Colorado lead to more rate increases for customers!
Unfortunately, most of these expenditures are not for cheap and abundant renewables!
Hmmm—Money for shareholders increasing 5-7% per year—Wow!
More money from the 99% into the pockets of the 1%–Wheee!
Why This is Unfair to Lower-Income Customers
All this money from rate increases will come disproportionately from low-income customers of Xcel because middle- and upper-income customers are getting solar and seeing their bills go down while the rate increases get paid disproportionately by low-income customers whose rates and bills are going up—and up and up! Ouch!
There are no guarantees in life, but we do know that a community power system (i.e. municipal electric utility):
- Would not have profits. By definition, public power is non-profit
- Would keep more energy $$ in our community helping create jobs and taxes and economic multiplier effects (one of the many benefits of “Decentralization).
- Would allow citizens to be involved in decision-making