Utility Profits FPL files largest rate increase ever

That would never work in Florida as the GOP tends to run cover for FPL and Duke

 

Our water authority just raised rates 15% starting this month. That headline was bad enough, but deviously they shrunk the pricing tiers meaning that you get to the next pricing tier 20% faster so the effective rate for most households will increase more than their already high 15% increase.

 

The Florida GOP has blocked FEC investigations as well as admitted to devising a plan to run a ghost candidate to defeat someone who was against FPL. Despite all of that people don't care

 

I do not think the US government has any business regulating a private companies profits

 

These are monopolies with special protections. No other company is allowed to come in and get them competition. They're not the same as traditional private companies

 

But the US government should be dictating the policies for private non-profits, right?

 

On the surface, 10% doesn't seem like an unreasonable profit margin for a company.

 

It’s a great return for zero risk.

 

I’m on a septic system so my costs are relatively low as sewer is the greater of the two costs. I don’t feel they’re underfunded. Freshwater is plentiful and easy to access here. They just built a massive new headquarters that looks like a building from Gattaca. Probably where a lot of the money is going.

 

Great. What’s your recourse if they double your power or water pricing? What competitor can you switch to? This isn’t Firehouse vs. Jimmy John’s vs Jersey Mikes vs Subway. This is you’ll pay it and you’ll like it.

 

I guess the customer pays for the hurricane repairs on top of their 10% profit? I know the fuel surcharge moves up and down based on the price of oil. If the utility provides life essential services reliably shouldn't they get a 10% tip?

 

I’m less bothered by a 10% profit as I am by the fact they get made whole when they are the ones at fault instead of it coming out of their profit. PGE simply jacked their rates up in the wake of their liabilities.

 

Especially since in states like Florida insurance companies are limited to 4.5% margins with arguably much more risk (though there are ways around that) and no monopoly.

 

again I said private companies - the water companies are usually owned by the municipalities - the electric companies have a monopoly

I went off the grid so all I pay the electric company is for the rental of the meter - I am on a septic tank so I do not pay the sewer costs

 

We had Clay electric when we lived in town of tioga, in newberry. At the end of the year, after paying their costs to operate, they sent us a check for what was left over. I guess all customers received one? Strangely, we received a check for 2 years after we moved. I called and they said it was legit. I didn’t argue, just hung up and cashed the check. Wasn’t a lot (less than 50) but enough for a nice lunch out with the wife.