Utility payback’s payback
Rep. Chris Pearson was correct when he said that “we have...successfully raised this issue to a level where it can’t be ignored.”
Despite the lack of legislative backbone to force GMP to honor the $21 million loan from the ratepayers, this whole situation will have one significant outcome. The bailout of a utility or any publicly funded operation, by passing on excess costs onto the public will never again be allowed in Vermont. The memory of being cheated and lied to is etched in our minds. In the future, let there be the tiniest leak that there is any consideration to pass some unplanned or emergency cost on to the public and you will see the capital lawn filled with protesters, the instant demise of political careers and a public outcry that will shake the capitol building.
That our government is agreeing to allow GMP to “invest” $21 million in weatherization and then recoup that same $21 million in higher rates, is so clearly a scam to increase their corporate profits that it must be hard to justify it and still keep a straight face. Why not ask the ratepayers if they want GMP to invest $21 million in weatherization (and a subsequent rate hike) OR if they want GMP to honor the repayment of the $21 million loan? Wouldn’t that be fair? The ratepayer’s choice would be obvious but since GMP would not have to expend $21 million in weatherization and then recoup that same $21 million in higher rates, this should be income-neutral for them - unless it IS a scam and there IS some large profit motive for them to pursue that plan.
This is so clearly and obviously an action opposed by the people of Vermont that it is hard to imagine the people that are allowing it, continue to use the term “representative.” They clearly don’t.
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