Tuesday, December 06, 2005

The electric bill, Part II

Forget about ExxonMobil and Royal Dutch Shell with their disgusting profit margins.

In October I wrote about how my electric bill had doubled in one month despite the fact we used less electricity. Entergy Corp. is the major utility company for the Gulf Coast region and they piled on an energy conversion charge which was more than double the actual rate for electricity usage. Keep in mind that despite lost profit from hurricanes Rita and Katrina, Entergy is still making record profits.

It was announced earlier this week that Entergy "filed a $496 million rate hike request with the Public Service Commission in an attempt to recoup costs from hurricanes Katrina and Rita." This must be the company's follow through on a November threat to "raise rates by 140% unless it gets a $500 million federal bailout ..." Don't these companies carry some sort of insurance policy or rainy day fund in the cookie jar for occassions like hurricanes, snow storms, employee injuries and the like? Perhaps this is all too esoteric for me.

Jack Ware writes about his concern that Entergy may move its corporate headquarters from New Orleans to Jackson, Mississippi. Frankly, I don't care much for New Orleans nor the phenominal murder rate and the detestable Saints of the NFL. Maybe the Saints and Entergy can share a U-haul.

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