There’s a lady up the street who’s always complaining about her electric bills. 😤 Instead of paying, she’s been throwing them into a front lawn fire pit. Her name’s Bernadette (think about it). 🔥📄
While burning your bills won’t get you out of owing the balance, PA’s governor wants to ease the pain for citizens. ❤️🩹 According to a new letter, Shapiro’s cooking up a plan. 👨🏻🍳
Here’s Five Fast Facts on Gov. Shapiro and PA utility costs:
- 🤑 Billion-Dollar Brawl - PA’s governor says the utility industry has hit a breaking point. Josh Shapiro is challenging companies that requested nearly $1 billion in higher rates after collectively earning $1.4 billion in profits. His message: customers can’t keep absorbing the pressure.
- 🤼 Push & Pull - Shapiro wants utilities to prove rate increases are actually worth the cost. His plan would require companies to explain projects more clearly and show how much profit they expect to make. But regulators and utility companies are pushing back on the idea.
- 👷🏽♂️ Bob the Builder - Utility companies make more money when they build and upgrade infrastructure. Since they control local gas and electric delivery systems, regulators have to approve any rate increases they want to charge customers. Shapiro has recently pushed back against some of those increases, especially after PECO reported strong profits.
- 📈 Greed Vs. Need - As utility bills climbed, so did executive paychecks. CEOs at investor-owned utilities earned a combined $626 million last year, while Pennsylvania recorded more than 400,000 utility shutoffs. The numbers are adding fuel to the affordability debate.
- 📝 Making Plans - The governor says utility companies should have to follow stricter rules before raising rates. He wants them to borrow money more cheaply, explain why expensive projects are necessary, and be more open about how much profit they make. The goal: to lower costs for customers and reduce what he sees as excessive profits.
🔥Bottom line: With those fat paychecks, you’d think the utility big wigs would share their wealth with the little guy! OK let’s be real, no one’s thinking that. Anyway, on the topic of PA energy drama, data center beef is hot and ready in some parts of the state. Read up on the latest in this article.
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