"so this obscure clique has a name. They’re called the Society of Utility and Regulatory Financial Analysts, or SURFA. And they are a large part of the reason why you’re paying way too much for electricity." prospect.org/environment/... - ThreadSky

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theprospect.bsky.social • 1 day ago

"so this obscure clique has a name. They’re called the Society of Utility and Regulatory Financial Analysts, or SURFA. And they are a large part of the reason why you’re paying way too much for electricity." https://prospect.org/environment/2025-02-21-secret-society-raising-your-electricity-bills/

Comments

billtilles.bsky.social•1 day ago

I think the author, while doing an excellent job, misses two key points: 1) that authorized ROEs have expanded for no valid reason over the past decades greatly increasing shareholder returns and 2) utilities pivoted to distribution asset spending in resonse to a low growth environment.

billtilles.bsky.social•1 day ago

In the interest of full disclosure I should add that I was a keynote speaker at SURFA.

billtilles.bsky.social•1 day ago

Let me cut to the chase for you. You’re basically asking “why do we still need an expensive equity layer in a monopoly utility’s capital structure.” Compare the utilities in California, IOUs vs the munis (LADWP and SMUD) for your answer.