How Xcel Makes MoneyPublished on: Sunday, September 13, 2020
Investor-Owned Utilities Make Money on Their Investments
Xcel’s load is flat, and profits are going UP and UP and UP!!
(AWESOME FOR SHAREHOLDERS…not so good for us…)
Wow—Look at all those rate increases for Xcel and their bottom line.
More and more money from poor people to “feed” the monopoly!!
Expenditures planned in Colorado=More rate increases for Xcel!!
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