There Is Serious Unloosen Energy Self-Dealing Going On . . .
– At Taxpayers’ Massive Expense
by Seton Motley, Contributing Author: As nosotros know, many of the companies from which nosotros larn our electricity be every bit quasi-monopolies – if non outright monopolies.
Even inward states similar Texas in addition to Maryland where y'all own got choices – in addition to I know, I’ve lived inward both – the variation betwixt providers is fairly slim. As for the infrastructure – y'all entirely own got 1 occupation into your abode.
Purchasing electricity – ain’t similar purchasing laundry soap. Electricity ain’t just a choice-rich environment.
So nosotros must pay detail attending to how these companies behave. And reply when they misbehave. And nosotros must hit thus anywhere misbehavior occurs. Lest their behaviour becomes a visual aide for other providers – similar ours.
One such miscreant – is Indiana’s Vectren.
More Coal Units Being Mothballed inward Indiana:
“(Vectren) said the (new) solar farm, amongst an estimated construction cost of $70 1000000 to $75 million, would live operational past times 2020.”
“Get that? Vectren is closing coal plants – in addition to attempting to supersede them amongst solar farms.”
This is a truly stupid move. Because “green energy” – is neither light-green nor energy.
Solar Panels & Their Toxic Emissions
Solar Uses More Energy to Manufacture Than It Produces
And because “green energy” is faux liberate energy – We the Taxpayers own got subsidized it to the melody of hundreds of billions of dollars…and counting.
Coal is a proven, inexpensive in addition to government-money-free liberate energy source. So why is Vectren ridding itself of productive coal – in addition to moving to unproductive, massively-government-money-subsidized solar?
Well, amongst solar (and wind) – y'all involve an actual liberate energy source when the faux ones inexorably fail. The go-to backup existent liberate energy source – is natural gas.
Vectren: Natural Gas Plant, Solar Farm to Join Energy Production
Ok. But why is Vectren doing this?:
“CenterPoint Energy to Buy Vectren inward a $6B Merger Deal:
“‘Gas in addition to electrical utility fellowship CenterPoint Energy plans to purchase liberate energy competitor Vectren inward a roughly $6 billion deal….’
“There it is. Vectren is prepping their Indiana fields – for the CenterPoint merger. Making the fellowship every bit attractive every bit possible for their soon-to-be masters.
“Which is so-very-excellent for Vectren’s executives.
“Vectren Shareholders Approve Executive Compensation If Sale of Company Closes:
“‘Vectren shareholders shape ballots on a resolution for the plough over executives’ pay – if a planned merger betwixt Vectren in addition to CenterPoint Energy is approved….
“‘(C)urrent Vectren Chief Executive Officer Carl Chapman’s work volition terminate upon the unopen of the deal. Shareholders voted to approve Chapman’s lastly compensation bundle -totaling roughly $31.9 million….
“‘In add-on to Chapman’s compensation, the document outlines potential payments to 3 other plough over executives should their work halt amongst the merger.
“‘The approximate payouts are every bit follows:
“‘Susan Hardwick, EVP & Chief Financial Officer – $6.1 million.
“‘Eric Schach, EVP & Chief Operating Officer – $7.2 million.
“‘Ronald Christian, EVP & Chief Legal & External Affairs Officer – $9.4 million.’
“And because coin is fungible – much of all this massive executive compensation comes from…government liberate energy subsidies.
“Which is awful for We the Taxpayers.
“You know who else is getting screwed past times this – twice, actually, because they are too taxpayers? Vectren’s Indiana liberate energy customers.
“Vectren’s Residential Customers Pay State’s Highest Electric Rates.”
Is that the entirely self-dealing inward which Vectren has engaged? Heavens no. The coal-purchasing they did – was too inordinately self-helpful.
Vectren Coal-Buying Agreements Raise Questions:
“Indiana’s utility consumer counselor in addition to populace advocacy groups are raising questions most coal-buying agreements that own got boosted Vectren Corp.’s profits at the expense of its customers, whose rates are amid the nation’s highest.
“The Evansville-based utility locked into expensive, multiyear agreements inward 2008, when coal prices were at tape highs, to purchase nearly all of its coal furnish for its coal-fired ability plants from its subsidiary, Vectren Fuels.”
Emphasis ours – ridiculous concern practices Vectren’s.
Vectren was buying its coal from…Vectren. And they weren’t just giving themselves the friends in addition to menage unit of measurement discount.
Vectren charged itself 50-percent to a greater extent than for its coal – than it charged other Indiana utilities: $44.35 per ton for others – $68.48 per ton for itself.
Vectren overcharged Vectren for coal – which was outstanding for Vectren. And thus Vectren made upwardly that coin past times overcharging its electricity victims…oops, I hateful customers.
What a cozy footling Vectren loop that was.
And thus Vectren moved away from coal to faux liberate energy solar – amongst its necessary natural gas backup. To gear upwardly the tabular array for a Vectren-executive-enriching takeover – past times natural gas fellowship CenterPoint.
So CenterPoint tin lav thus overcharge itself for natural gas – in addition to brand upwardly that coin past times overcharging its electricity victims…oops, I hateful customers.
How really Vectren of them.
Remember how nosotros warned of the precedent-setting nature of unchecked bad behavior?
Exhibit A, Your Honor.
----------------
Seton Motley is the President of Less Government in addition to he contributes to . Please experience gratis to follow him him on Twitter / Facebook.
Tags: Seton Motley, Less Government, Serious Energy Self-Dealing, Going On, Taxpayers, Massive Expense To portion or post to your site, click on "Post Link". Please refer / link to the in addition to "Like" Facebook Page - Thanks! Sumber https://arkansasgopwing.blogspot.com/
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Even inward states similar Texas in addition to Maryland where y'all own got choices – in addition to I know, I’ve lived inward both – the variation betwixt providers is fairly slim. As for the infrastructure – y'all entirely own got 1 occupation into your abode.
Purchasing electricity – ain’t similar purchasing laundry soap. Electricity ain’t just a choice-rich environment.
So nosotros must pay detail attending to how these companies behave. And reply when they misbehave. And nosotros must hit thus anywhere misbehavior occurs. Lest their behaviour becomes a visual aide for other providers – similar ours.
One such miscreant – is Indiana’s Vectren.
More Coal Units Being Mothballed inward Indiana:
“(Vectren) said the (new) solar farm, amongst an estimated construction cost of $70 1000000 to $75 million, would live operational past times 2020.”
“Get that? Vectren is closing coal plants – in addition to attempting to supersede them amongst solar farms.”
This is a truly stupid move. Because “green energy” – is neither light-green nor energy.
Solar Panels & Their Toxic Emissions
Solar Uses More Energy to Manufacture Than It Produces
And because “green energy” is faux liberate energy – We the Taxpayers own got subsidized it to the melody of hundreds of billions of dollars…and counting.
Coal is a proven, inexpensive in addition to government-money-free liberate energy source. So why is Vectren ridding itself of productive coal – in addition to moving to unproductive, massively-government-money-subsidized solar?
Well, amongst solar (and wind) – y'all involve an actual liberate energy source when the faux ones inexorably fail. The go-to backup existent liberate energy source – is natural gas.
Vectren: Natural Gas Plant, Solar Farm to Join Energy Production
Ok. But why is Vectren doing this?:
“CenterPoint Energy to Buy Vectren inward a $6B Merger Deal:
“‘Gas in addition to electrical utility fellowship CenterPoint Energy plans to purchase liberate energy competitor Vectren inward a roughly $6 billion deal….’
“There it is. Vectren is prepping their Indiana fields – for the CenterPoint merger. Making the fellowship every bit attractive every bit possible for their soon-to-be masters.
“Which is so-very-excellent for Vectren’s executives.
“Vectren Shareholders Approve Executive Compensation If Sale of Company Closes:
“‘Vectren shareholders shape ballots on a resolution for the plough over executives’ pay – if a planned merger betwixt Vectren in addition to CenterPoint Energy is approved….
“‘(C)urrent Vectren Chief Executive Officer Carl Chapman’s work volition terminate upon the unopen of the deal. Shareholders voted to approve Chapman’s lastly compensation bundle -totaling roughly $31.9 million….
“‘In add-on to Chapman’s compensation, the document outlines potential payments to 3 other plough over executives should their work halt amongst the merger.
“‘The approximate payouts are every bit follows:
“‘Susan Hardwick, EVP & Chief Financial Officer – $6.1 million.
“‘Eric Schach, EVP & Chief Operating Officer – $7.2 million.
“‘Ronald Christian, EVP & Chief Legal & External Affairs Officer – $9.4 million.’
“And because coin is fungible – much of all this massive executive compensation comes from…government liberate energy subsidies.
“Which is awful for We the Taxpayers.
“You know who else is getting screwed past times this – twice, actually, because they are too taxpayers? Vectren’s Indiana liberate energy customers.
“Vectren’s Residential Customers Pay State’s Highest Electric Rates.”
Is that the entirely self-dealing inward which Vectren has engaged? Heavens no. The coal-purchasing they did – was too inordinately self-helpful.
Vectren Coal-Buying Agreements Raise Questions:
“Indiana’s utility consumer counselor in addition to populace advocacy groups are raising questions most coal-buying agreements that own got boosted Vectren Corp.’s profits at the expense of its customers, whose rates are amid the nation’s highest.
“The Evansville-based utility locked into expensive, multiyear agreements inward 2008, when coal prices were at tape highs, to purchase nearly all of its coal furnish for its coal-fired ability plants from its subsidiary, Vectren Fuels.”
Emphasis ours – ridiculous concern practices Vectren’s.
Vectren was buying its coal from…Vectren. And they weren’t just giving themselves the friends in addition to menage unit of measurement discount.
Vectren charged itself 50-percent to a greater extent than for its coal – than it charged other Indiana utilities: $44.35 per ton for others – $68.48 per ton for itself.
Vectren overcharged Vectren for coal – which was outstanding for Vectren. And thus Vectren made upwardly that coin past times overcharging its electricity victims…oops, I hateful customers.
What a cozy footling Vectren loop that was.
And thus Vectren moved away from coal to faux liberate energy solar – amongst its necessary natural gas backup. To gear upwardly the tabular array for a Vectren-executive-enriching takeover – past times natural gas fellowship CenterPoint.
So CenterPoint tin lav thus overcharge itself for natural gas – in addition to brand upwardly that coin past times overcharging its electricity victims…oops, I hateful customers.
How really Vectren of them.
Remember how nosotros warned of the precedent-setting nature of unchecked bad behavior?
Exhibit A, Your Honor.
----------------
Seton Motley is the President of Less Government in addition to he contributes to . Please experience gratis to follow him him on Twitter / Facebook.
Tags: Seton Motley, Less Government, Serious Energy Self-Dealing, Going On, Taxpayers, Massive Expense To portion or post to your site, click on "Post Link". Please refer / link to the in addition to "Like" Facebook Page - Thanks! Sumber https://arkansasgopwing.blogspot.com/
There Is Serious Unloosen Energy Self-Dealing Going On . . .
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