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The only money these guys should get is for permanently lost revenue due to mandated orders to not cut off service for non-payment due to the Governor’s order. And those funds should come out of the federal bailout money, not rate payers. As to getting paid to make up for lower consumption, they can pound sand.
The very fact that they would ask for these rate increases and recovery is proof that their leadership is both arrogant and ignorant. Greed – one of the seven deadly sins.
I worked for IPL for 12 years and in a average year IPL shipped almost $1million a DAY to the AES corporate headquarters in Arlington VA, in the form of profits, roughly $300million a year.
These guys aren’t loosing money, I suspect they just aren’t making enough to pay those big quarterly dividends and executive bonuses. Suck it up like the rest of us.
I hope that the governor takes this opportunity to show leadership in championing the interests of the citizens and strongly urging the IURC to deny a hearing on this request. It is the least he can do. He should have never placed a moratorium on disconnections in the first place.
The IURC has already agreed to hear the case, as the story says.
The utility shareholders are not a special class.
They can take their lumps like everyone else in this Covid mess.
Revenues did not meet forecast? So their customers get handed a special assessment?
Only in a parallel universe!
There are 75 staff members at the IURC?