| Posted on 06/14/2010 10:00 AM EST |
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HOUSE BILL 277-The Prudence Standard
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Dean Costas
Dear Editor:
In 2006, Tidewater Utilities, Inc. requested a 38.58% rate increase from the PSC. but received a 26.96% rate increase. In 2009, Tidewater asked for a 32.54 % rate increase and settled for a 14.95% increase after concerned citizens, the Public Advocate and the State’s Attorney opposed granting the full request. Our outcry resulted in temporary relief.
A forty percent rate increase every three years is unacceptable.
To their credit, House of Representatives Schooly and Longhurst, along with Senators Bunting, Ennis and Simpson sponsored HB277in 2009 for permanent rate relief. This would have authorized the PSC to legally deny the recovery of "certain" expenditures by utilities, and there-by restrain constant and outrageous double-digit rate increases by monopolies. Therefore in the absence of competition, our Legislators could have debated and passed HB277 in this session to give their constituents some permanent rate relief. The Prudence Standard exists in the majority of jurisdictions in America now. It would replace Tidewater’s "Business Standard".
The PSC has oversight responsibility to regulate the rates now, but not with commensurate legal authority to enforce regulations to the extent necessary.
Rewarding big business and punishing constituents short changes especially the almost 18,000 taxpayers at the poverty level in Sussex County and 36,000 Seniors mostly on fixed incomes. We thought our Legislators would work tirelessly to pass HB277 for us by June 30th. I believe we deserve better representation.
We thank the few who supported HB277 and we look to the next session of the General Assembly to make a difference, because ... we will remember in November.
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