The electric utility companies across Missouri are bombarding us through all types of media with propaganda about the ‘antique’ process through which they are regulated by the Public Service Commission (PSC) and are supporting proposed legislation in Jefferson City to “modernize” the process. (HB398 & SB207)
They have devised a plan through which they would be allowed to charge their customers in advance for capital improvements they may make in the future without impacting dividends paid to the shareholders in the companies. The improvements will then be added to their operating cost base so they can increase their rates even more.
Summit Natural Gas Corp. is currently spending millions of dollars to provide natural gas throughout the Lake of the Ozarks area of Missouri. They have taken a calculated business risk in borrowing the money to design the system and install the gas lines. Their investment will be recovered through rates regulated by the PSC like all other utilities. This is the way free enterprise is supposed to work, not putting the burden on consumers in advance of providing a service.
One of the considerations of the PSC is to make sure the companies receive a fair return on their investment. Let’s keep it that way. Call your Senator and Representative and tell them that we should not have to provide financing capital unless we get some of the dividends like the shareholders do.