Thu Feb 21, 2013, 02:44 PM
ProfessionalLeftist (4,982 posts)
Electricity ratepayers be warned! (received in email from Progress NC)
Shocking new evidence suggests that Gov. Pat McCrory will personally profit from a bill being debated in the General Assembly. McCrory's response so far has been to say nothing. No comment. That is unacceptable.
Proposed Senate Bill 10 would fire all existing members of our state's most powerful boards and commissions and allow the Governor to appoint their replacements. Among the boards affected are those that oversee environmental regulations, protect our coastline, regulate our labor markets and, perhaps most importantly, decide how much our electricity providers can charge ratepayers.
The Charlotte Observer called it "one of the more blatant power grabs in state history," and the Greensboro News & Record said it was a "shameless, disruptive attempt to grab power."
Let us be clear: this move will benefit big corporations and wealthy campaign donors at the expense of hardworking taxpayers and electricity ratepayers.
Senate Bill 10 would give Gov. McCrory the power to appoint all members of the state Utilities Commission, which regulates Duke / Progress Energy, which is now one company. In the coming months, the Utilities Commission will decide on Duke's request for a 14.2% electricity rate hike for Progress residential customers. Duke wants an 11.8% rate hike for Duke residential customers.
Remember: Gov. McCrory worked at Duke Energy for almost three decades. As Mayor of Charlotte, McCrory regularly provided favors for Duke. In return, Duke Energy and its employees spent over $1 million to get McCrory elected governor.
We also know that Gov. McCrory owns thousands of dollars in Duke Energy stock and rate hikes will improve the stock price. Yes, that's right. Since utility company stock prices historically rise as their rates go up, SB10 will give Pat McCrory the ability to enhance his own wealth.
In response to this blatant conflict of interest, Progress NC has launched a new campaign called "Power Mad Power Grab" which includes a website, petition and statewide tour.
We are calling on Pat McCrory to divulge how much Duke Energy stock he owns and to take one of three actions that will resolve this flagrant conflict of interest:
1. Divest his Duke stock holdings;
2. Recuse himself from appointments to the State Utilities Commission; or
3. Veto the bill.
Please sign our petition today and tell Governor McCrory to divulge and to divest, recuse or veto.
3 replies, 1071 views
Electricity ratepayers be warned! (received in email from Progress NC) (Original post)
Response to ProfessionalLeftist (Original post)
Thu Feb 21, 2013, 04:21 PM
FBaggins (15,393 posts)
2. Doesn't seem like the right plan of attack.
He has "thousands" of dollars in their stock?
Big deal... so he could make decisions that might line his own pockets to the tune of hundreds of dollars?
That simply isn't much of a red flag.
The simple fact that they're stacking the commissions is what we should focus on. I don't think it's plausible to the average voter than a profit motive that minuscule drives state policy.
Response to FBaggins (Reply #2)
Thu Feb 21, 2013, 04:25 PM
ProfessionalLeftist (4,982 posts)
3. I personally don't care abt his stock. The fact that he worked there & his obvious cronyism
and connections and loyalties to Duke Power is a HUGE concern to me, besides clearing and re-stacking the commission w/ his own cronies. I signed the petition.