by Jack Lindley
It’s a predictable stunt. Promise one thing. Do another.
It’s typical of the way liberals think, and govern. It may be your money. But they know how to spend it better than you do.
Ten years ago Vermont ratepayers were forced to bail out Central Vermont Public Service Corporation (CVPS). Ratepayers were told that if CVPS was ever sold or merged with another utility, the money ($21 Million. Yes, $21,000,000 – more than $150 per household) would be returned to the ratepayers who bailed them out.
That was then.
This is now.
Governor Shumlin’s Public Service Commission has negotiated a deal that would allow CVPS to merge with Green Mountain Power. And what about that promise to return the money to the ratepayers?
Call it Governor Shumlin’s ‘Tax the Ratepayers’ plan. And don’t take my word for it… see for yourself.
Instead of returning the money to the ratepayers, the Governor will allow the utility to “invest” the ratepayer’s money in “efficiency programs.” Even worse, the utility will be allowed to incorporate the $21 million into their “rate base.” Under Vermont law, the higher the rate base, the more a utility is allowed to charge its customers. That means higher energy prices for you.
The ratepayers (you) will be taking it on the chin twice. (In his own words, watch to Governor say that “we can handle” (meaning you) a 10% rate increase)
Jack Lindley is the Vermont GOP Chairman