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Sounds like AES customers can look forward to a doubling in their rates.
yep
Even before this news, I believe all utilities should be required to hold the line on rate increases for current customers and not do anything to pass the cost of new power generating infrastructure related to data centers. Those new customers should be required to pay the entire cost of new plants, etc. So it goes with this acquisition deal – it should be contingent on that obligation.
As the reporting required by a publicly traded company disappears, you can expect even less transparency from AES. But even before the sale, AES was good at “outsourcing” services to south American divisions in a technically legal way to transfer profits out of the US.
AES acquired IPL in March 2001. Anyone care to guess the total return on investment for an IPL shareholder who exchanged their shares for AES stock at the time of the merger 25 years ago?
Equity companies buy companies to take them private, strip the company, then resells it or makes it public again so they can reap more fees.