Aug 1, 2011
Utility rates are wildly increasing everywhere in the U.S. This month, Southern California Edison announced that it wants 3.3 billion dollars in rate increases over three years. This means up to eleven% increase per year.
Edison produced many excuses for this steep hike. But one excuse is striking: they say that the utility needs the money to increase employee pay. Who is this employee in their mind? It’s certainly not those who do the work – because they haven’t been getting any increases, only cuts!
No one should be fooled – these increases go to Edison’s shareholders, to Edison’s banks, and to its executives.