California regulators vote to keep utility profits high, angering customers

[trumptman]

State regulators vote to keep utility profits high, angering customers across California

The California Public Utilities Commission voted 4 to 1 on Thursday to keep profits at Southern California Edison and the state’s other big investor-owned utilities at a level that consumer groups say has long been inflated.

www.latimes.com

Among those testifying on behalf of consumers was Mark Ellis, the former chief economist for Sempra, the parent company of San Diego Gas & Electric and Southern California Gas. Ellis estimated that the companies' profit margin should be closer to 6%.

He argued in a filing that the California commission had for years authorized the utilities to earn an excessive return on equity, resulting in an "unnecessary and unearned wealth transfer" from customers to the companies.

Cutting the return on equity to a little more than 6% would give Edison, Pacific Gas & Electric, SDG&E and SoCalGas a fair return, Ellis said, while saving their customers $6.1 billion a year.

The four commissioners who voted to keep the return on equity at about 10% — the percentage varies slightly for each company — said they believed they had found a balance between the 11% or higher rate that the four utilities had requested and the affordability concerns of utility customers.

Let's remember this is in true blue California where the supermajority of Democrat control are insuring that the rich pay their fair share, that fat cat companies and their excessive profits are reined in and the little people and common man have a change to get ahead.

Except of course none of that is happening.

These are regulated public utilities and the supermajority that regulates and legislates them and the answer is still..... TRUMP TRUMP TRUMP.... I guess right? I mean the fault can't be the Democrat supermajorities, the Democrat entire executive branch and the lack of accountability or even ability to really elect someone else who will actually answer for the lack of performance here. Who's fault is it when California has billions transferred from customers to company profits in exactly the circumstances and scenarios where it is claimed this couldn't and won't happen.

If it can't be stopped in California then where would it be stopped?

If the Democrats won't do their job then who can you really blame when people vote to dismantle or blow up the system that refuses to serve them.

Let's not forget the first and only response... TRUMP TRUMP TRUMP TRUMP!!!

 

[Meister]

Californians just need to keep voting for the democrat socialists in the election cycles.
They will always have something to ***** about when they do.

 

[westwall]

Californians just need to keep voting for the democrat socialists in the election cycles.
They will always have something to ***** about when they do.

Plus California will make an excellent example of uniparty rule, and how it destroys citizens lives.

 

[Dont Taz Me Bro]

They voted for this

 

[Blaster]

Plus California will make an excellent example of uniparty rule, and how it destroys citizens lives.

California voters keep electing Democrats so I have no sympathy for them. They must like to suffer.

 

[EvilCat Breath]

California is looking at $12.00 a gallon gas.

 

[Independent thinker]

State regulators vote to keep utility profits high, angering customers across California

The California Public Utilities Commission voted 4 to 1 on Thursday to keep profits at Southern California Edison and the state’s other big investor-owned utilities at a level that consumer groups say has long been inflated.

www.latimes.com

Let's remember this is in true blue California where the supermajority of Democrat control are insuring that the rich pay their fair share, that fat cat companies and their excessive profits are reined in and the little people and common man have a change to get ahead.

Except of course none of that is happening.

These are regulated public utilities and the supermajority that regulates and legislates them and the answer is still..... TRUMP TRUMP TRUMP.... I guess right? I mean the fault can't be the Democrat supermajorities, the Democrat entire executive branch and the lack of accountability or even ability to really elect someone else who will actually answer for the lack of performance here. Who's fault is it when California has billions transferred from customers to company profits in exactly the circumstances and scenarios where it is claimed this couldn't and won't happen.

If it can't be stopped in California then where would it be stopped?

If the Democrats won't do their job then who can you really blame when people vote to dismantle or blow up the system that refuses to serve them.

Let's not forget the first and only response... TRUMP TRUMP TRUMP TRUMP!!!

Why anyone there would vote blue or stay in the state is beyond my comprehension.

 

[drudge X]

Leftists are still insisting that Democrats are looking out for the little people. They do if you look them in the eye. The moment you turn around, Democrats will stab you without hesitation.

 

[trumptman]

Why anyone there would vote blue or stay in the state is beyond my comprehension.

Vote blue no. Stay yes. They can pry this state from my cold dead hands.