State Rep. Teresa Fedor (D-Toledo) today issued the following statement in response to the Public Utility Commission of Ohio’s (PUCO) controversial approval of AEP and FirstEnergy consumer rate hikes to pay for corporate profits:


“It is shameful that our state utility watchdog is making Ohio consumers pay more on their electric bills to ensure even bigger profit margins and bonuses for corporate CEOs. As Ohioans’ median income lags the nation and too many Ohioans remain stuck in low-wage jobs, raising electric bills to pay for corporate profits is the last thing the state should be doing.


“Today’s decision highlights the sad truth that the utility companies tasked with powering our state’s energy grid are themselves powered by greed. When taxpayers are forced to bailout private, for-profit corporations, there needs to be accountability and answers from those in charge of running our state.


“It is no wonder so many people in Ohio and across America don’t trust government and believe greedy corporate CEOs are rigging the rules in their favor and stacking the deck against the average person. The PUCO’s decision today is proof positive that this is indeed the case when it comes to big energy companies having all the say in Ohio and sticking consumers with the bill.


“This is just another corrupt scheme for big energy to raid consumer pockets for their own benefit. It is time for utilities to start living in the 21st century and making real investments in advanced energy sources that will save consumers money and power our future. Big electric companies could start regaining consumer confidence by modernizing the grid to make energy efficient and affordable instead of holding it hostage to pad profit margins.”

 
 
 
  
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