I'll rephrase, Do you care that a company only makes half their allowed profit?
By LCecelia
@LCecelia (1124)
United States
September 12, 2007 5:16pm CST
I live in North Texas and there is a natural gas utility company here whose CEO was quoted in the Tuesday local newspaper as saying and I quote, "...it earned half of its allowed rate of return," and because of that they "intend to file for a rate increase in more than 400 cities next week."
This news comes out just months after the Texas Railroad Commission approved a contentious rate increase averaging about 70 cents a month per household. There were complaints about this because the company included expenses such as the costs of expensive hotels and limousines in their application. These were removed because of the outrage and now they are trying again.
They claim that now they have hired outside auditors to look over this latest filing, but I'm sure they've found ways to pad "legitimate" business related expenses.
Give me a BREAK! I feel soooooooooo sorry for them! Do they think that I and every other of their customers are just going to curl up in a ball and die just because a fat cat company didn't meet their gouging quota! And in sympathy think they're going to wear nothing but black for the next 20 years!!! Please!!!!
And the other thing...It is stipulated somewhere that there is a profit level at which theey are allowed to achieve. Don't even get me started on that!
So tell me folks, are you as outraged as I am at companies who are whining because they didn't get as many big toys as they'd hoped for Christmas?
2 people like this
3 responses
@chertsy (3798)
• United States
13 Sep 07
I think if people complained again and keep complaining til these money hungry a**h*les will realise that this is a losing battle. Only raises we are seeing is our water bill will be going up by a dollar and some change. If that doesn't even work, people should take it to television. What if peope don't use natural gas or any gas products in there home, this company can't make them pay anything.
I'm not familar with why the Railroad commission would be charging a person money especially an extra 70 cents a month.
More people should stand up to these companies and show them that we are tired and we won't take it anymore. Maybe then things will change.
@LCecelia (1124)
• United States
13 Sep 07
We can't win for loosing. If we decide to have all only electricity in our home, eventually the electric companies will begin to raise their prices. Lose, lose. :-(
As for the railroad commission, they are not the one charging the consumers the increase. For some reason the utility company has to file with the Railroad commission if they want to increase their rates.
1 person likes this
@michaeldadona (5684)
• Malaysia
13 Sep 07
"Texas natural gas distribution systems include 31 investor owned utilities and 85 municipally owned systems. These natural gas distribution systems serve 3.9 million customers, which comprise domestic households, small commercial, and large industrial customers."
"437 billion cubic feet of gas was purchased through natural gas distribution systems. This was 12% of all gas consumed in Texas (3,585 billion cubic feet). Gas sales through natural gas distribution systems totaled over $2.23 billion."
FROM THE FIRST PARAGRAPH STATEMENT:-
It was a clear statement about the volume and the return of investment for the 31 investors will get money and that is why all the CEOs aiming for.
It is all about business demand and supply, where the end user paying for. Not only for Christmas but for the rest of CEO's life.
