Just wondering everyone's thoughts on the most recent actions of First Energy. As an all-electric homeowner for decades, I was extremely shocked to recieve a $500 electric bill, during what I believe is the first true depression in nearly a century.
Now you may ask why I say legitimate vs. criminal, and my answer is simple. First, remember the light bulb fiasco? What was that all about. Then the rate increases on many who have been in a plan forever. I seem to remember many years ago when the discounts for all electric homes started, I believe the electric company encouraged people to go electric, and with their production and the inability to sell outside of the service area, they felt a discounted rate for consumer's to purchase more product was a good idea. Now with deregulating, they can sell product at a premium to other companies throughout the midwest and beyond. The discounted rate now means a loss in revenue, therefore we aren't needed anymore. I compare it to my cell phone bill. I signed a two year contract, after the contract I continued month to month for years. What would you think if suddenly they changed your plan and increased your cost by 200%? Worse yet, what if you had no other options?
I commend Mr. Grendell for his aggressive approach to address the PUCO's inept oversight by allowing the restructuring of FE billing. Many gas users will complain that they have subsidized the discount for years, but the reality is they haven't. In fact we all got screwed with these changes as well because of the increase in cost just to receive electricity (50%). Doesn't matter where you buy, the method for delivering the energy still exists, last month that cost me $189!!
I believe in business and their profitability but wow, I'd love to see my wages increase like the utilities and helathcare!
