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Cal Watchdog: California’s utility companies have been involved in a power-plant building spree, even though Californians have significantly cut their electricity usage over the same time period. And they’re allowed to raise rates to cover the cost, whether we need these plants or not.

11 Feb

Thanks Bob for this article detailing the way power companies are allowed to operate against the best interests of the California ratepayer:

http://calwatchdog.com/2017/02/07/lack-competition-leading-costly-electricity-glut/

“Companies are granted an electricity monopoly for a particular region, then are guaranteed a hefty rate of return for the infrastructure investments they make.”

“This price system, critics say, results in unforeseen consequences. A recent investigative report found that California’s utility companies have been involved in a power-plant building spree, even though Californians have significantly cut their electricity usage over the same time period. In three years, the state is projected to be producing 21 percent more electricity than it needs, without counting the growth in rooftop-solar applications, reported the Los Angeles Times.”

 

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