Stan Geiger

PSO Drops a Bomb

KOTV reported this evening that PSO, citing higher fuel costs as its excuse, is looking for a rate hike that would increase the average customer's bill by a staggering $17 a month. According to my calculator, that's over $200 a year.

PSO has over half a million customers, so that's over $100 million to the company annually. Last I looked, AEP---PSO's parent---is showing a billion dollars a year in bottom-line profit. Yet every time PSO incurs a cost, whether it's an ice storm, burying lines or fuel, ratepayers eat it.

The electric company is getting as bad as bankers, insurance companies and education.

Speaking of Mr. Ed, I bet people are feeling a little better about turning down TCC's "cup of coffee" property tax increase now.

Interesting timing on the PSO announcement, by the way. I mean the company could have announced its plan to seek a rate increase last week. Instead, it waited until after the TCC vote. As it was, less than 10,000 people voted for the tax increase. I bet a lot of the yea-sayers would've voted the other way if they had known they were facing a huge increase in their electric bills.

It seems there is a lesson to be learned here. You never know what's lurking behind the next tree, so don't vote for tax increases.

---