The last time Southern California Edison asked for a rate increase, it overestimated its costs by half a billion dollars – and then funneled $140 million of that “savings” to executives and workers in the form of bonuses and other compensation.
Edison’s latest rate increase request is pending now before state regulators, and could raise residential bills some $8 a month. Consumer advocates fear that money will line executives’ pockets.
What does our democratically controlled government do about this? NOTHING.
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