Just an absolute banger of a research paper out recently from Mark Ellis, a Senior Fellow @econliberties.bsky.social about how investor owned utilities are breaking the bank, and the backs, of regular people. Here are few of my favorite passages, a 🧵. www.economicliberties.us/press-releas... - ThreadSky

taitdl.bsky.social • 40 days ago

Just an absolute banger of a research paper out recently from Mark Ellis, a Senior Fellow @econliberties.bsky.social about how investor owned utilities are breaking the bank, and the backs, of regular people.

Here are few of my favorite passages, a 🧵.

https://www.economicliberties.us/press-release/new-economic-liberties-paper-exposes-how-investor-owned-utilities-exploit-rate-of-return-policies-to-overcharge-americans/

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taitdl.bsky.social•40 days ago

People are always talking about California this and California that, as if it is some sort of harbinger for clean energy being expensive.

What they're hoping you don't do, is look deeper. Because the real California crisis is one of investor-owned utilities vs. public power. Not clean vs. dirty.

taitdl.bsky.social•40 days ago

"Over the last three years, IOU [investor-owned utility] residential electricity rates have increased 49% more than inflation. In contrast, their publicly owned counterparts have increased 44% less than inflation."

taitdl.bsky.social•40 days ago

"In some states, the contrast is even more stark. Investor-owned San Diego Gas & Electric’s residential rate increased by 78%, to over 45 cents per kilowatt-hour (kWh) between 2020 and 2023."

taitdl.bsky.social•40 days ago

"Similarly sized Sacramento Municipal Utility District’s average residential rate rose less than inflation and, at less than 17 cents/kWh, is barely one-third of SDG&E’s."

taitdl.bsky.social•40 days ago

A full 16% of SDG&E's revenue goes to "net income". For a regulated monopoly! I'm sure our Southeastern brethren fare no better. I'll try to do some math on other utilities in a thread to come.

kja.bsky.social•38 days ago

I'm old enough to remember when utilities stocks were seen as akin to higher-yield bonds.

taitdl.bsky.social•40 days ago

"The aggregate stock market value of all US investor-owned utilities is approximately $1.3 trillion. At the current M/B [market to book ratio] of 2.3, investors value the ongoing excess wealth extraction from utility customers at over a trillion dollars."

OVER A TRILLION DOLLARS!

cmtroy205.bsky.social•38 days ago

📌

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