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End monopoly power of all utilities.
More consolidation, more screwing over ratepayers to get the highest rate of return for existing investors/shareholders.
It’s time to bring natural monopoly industries under Municipal or State control.
This should never be allowed to happen. As a matter of principal, utilities should be non-profit to begin with.
agreed
Duke sold a minority interest (19.9%) in Duke Indiana to a Singapore investment fund. That was finalized in 2023.
Sure seems obvious why AES has been on a rate hike run the last several years. Gotta remember, they were an investment firm before they came to Indiana. Now it’s mission accomplished for them and their stakeholders.
Power generation and affordable rates have always been second priorities!
This is a disaster. Indiana should take control of its utilities
Only if the Indiana General Assembly will actually do something that is consumer/ratepayer friendly. They have the power – if they “want” to do so.
Energy should be a public good. Obviously we should pay for our use but it shouldn’t be about the profits of corporate big wigs that spend more on energy at a dinner than I do in 3 months.
this cannot be allowed to happen
The City should start an eminent domain case right now. Try to take IPL back. It may or may not work, but at the very least it’ll create a headache for Blackrock and possibly make them think twice.
Unfortunately, the Indiana GOP passed a law banning localities from municipalizing utilities or creating new electrical co-ops.
This is fascinating. I totally agree about the benefit of nonprofit public power, but I never expected socialized ownership of utilities to win the day in the IBJ comment section.
Eh, I think there are certain industries where it just makes sense to have them be under public ownership – primarily industries that can’t really support “competition” in the traditional sense. Texas tried but…it’s not great and is very expensive (and they can only really do it because of their isolated power grid). Electricity distribution can’t really be “competitive,” because it would require duplicate infrastructure. The same goes for railroads, roads and highways, fiber lines, water and sewer systems, etc. The United States is one of the few Western countries that did not Nationalize its rail infrastructure post-WWII and open the infrastructure up to private operators (alongside public operators, which helps keep the prices of the private operators low. See Germany, Czechia, France, Italy, Australia, etc.). As a result, we lost a lot of tracks that could be of public benefit (ex. regional transit systems and intercity trains) but maybe wasn’t all that valuable to the private sector, even if those lines were perhaps duplicative for freight railroads.
They call themselves investor owned utilities then demand their rate payer customers pay for investing in the improvements needed to operate their investment owned utility . They should be community trust owned like Citizens Energy Group .
How would this benefit rate-payers? Do your job IURC.