With winter weather hitting the nation in full force, unplowed roads and slippery sidewalks aren’t the only thing to worry about this season. Imposter scammers are dialing up their efforts, posing as utility company employees and threatening to shut off customers’ gas or electricity, unless swift payment is made.
How It Works:
You get a call from someone who says they’re calling from your utility company, telling you your bill is overdue, and if you don’t pay up, your power will be shut off. And you guessed it they want the money fast, usually through untraceable payment cards or a wire transfer. Scammers are skilled in the art of persuasion, and may sound very convincing. They may also become intimidating or threatening.
What You Should Know:
Utility company representatives won’t demand instant payment over the phone, or ask you to meet them at a payment center like Western Union or Walmart. And they will never ask for or require the use of pre-paid debit cards like Green Dot MoneyPak cards. Utility companies usually have several options for payment provided for the convenience of their customers.
Written notice is always provided to customers in arrears, usually through multiple late and disconnection notices. If you haven’t received notice, the person on the other end of the phone line is a scammer!
What You Should Do:
These scammers can only be successful if they catch you off guard or scare you . Don’t panic! Hang up and report the call to your utility company and your local police, providing as much information as possible, including phone number they called from and what threats were made.
Don’t ever provide financial information, like your credit card or bank account number, over the phone, no matter how legitimate the caller sounds.
If you think there is any possibility that your account is past due, hang up and call your utility company using a number you can verify, such as a customer service number from your bill.
"You get a call from someone who says they’re calling from your utility company, telling you your bill is overdue, and if you don’t pay up, your power will be shut off. And you guessed it they want the money fast, usually through untraceable payment cards or a wire transfer. Scammers are skilled in the art of persuasion, and may sound very convincing. They may also become intimidating or threatening."
Tell them you'll go to the BANK and pay it, or your online bank account. Wire transfer? Never. Intimidating or threatening? Never. They'll work out a payment plan, and they'll be gracious while doing it.
Besides, isn't it illegal to shut off electricity in the winter?
People here will immediately freeze to death.
"You get a call from someone who says they’re calling from your utility company, telling you your bill is overdue, and if you don’t pay up, your power will be shut off. And you guessed it they want the money fast, usually through untraceable payment cards or a wire transfer. Scammers are skilled in the art of persuasion, and may sound very convincing. They may also become intimidating or threatening."
Tell them you'll go to the BANK and pay it, or your online bank account. Wire transfer? Never. Intimidating or threatening? Never. They'll work out a payment plan, and they'll be gracious while doing it.
Besides, isn't it illegal to shut off electricity in the winter? People here will immediately freeze to death.
Pretty much. People would freeze here too, or use space heaters or charcoal grills, and die from carbon monoxide.
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
"You get a call from someone who says they’re calling from your utility company, telling you your bill is overdue, and if you don’t pay up, your power will be shut off. And you guessed it they want the money fast, usually through untraceable payment cards or a wire transfer. Scammers are skilled in the art of persuasion, and may sound very convincing. They may also become intimidating or threatening."
Tell them you'll go to the BANK and pay it, or your online bank account. Wire transfer? Never. Intimidating or threatening? Never. They'll work out a payment plan, and they'll be gracious while doing it.
Besides, isn't it illegal to shut off electricity in the winter? People here will immediately freeze to death.
Pretty much. People would freeze here too, or use space heaters or charcoal grills, and die from carbon monoxide.
If they don't pay their bill--it shouldn't be.
__________________
I'm not arguing, I'm just explaining why I'm right.
Well, I could agree with you--but then we'd both be wrong.
In some states in the US it's against the law during certain months to cut off the source of heat if they haven't paid.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
DH got a call the other day, saying "call this number IMMEDIATELY or an arrest warrant will be put out on you because you haven't paid your parking tickets - IN NEW YORK CITY!!!!!" DH has never driven in NYC! He and I just laughed as we hung up on this scammer!
The penalty for scamming should be much higher than it is. Maybe if the penalty was scary enough less people would turn to scamming as a way to make a living.
My parents sent $500 to a scammer awhile back. Guy called and said my son was in a Mexican prison for running drugs and needed a lawyer. Of course, my dumb mother didn't bother calling me. Instead she just wired the money to the number the guy told her. The next day they called back and asked for $1500. At that point she called me. My son was sitting right next to me. It's become a joke in our family about his drug running days.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
As long as there are smooth talkers, there will always be frauds and people who will be taken in by them. The gift of gab is a powerful thing; tends to block out common sense and logic most of the time...
"You get a call from someone who says they’re calling from your utility company, telling you your bill is overdue, and if you don’t pay up, your power will be shut off. And you guessed it they want the money fast, usually through untraceable payment cards or a wire transfer. Scammers are skilled in the art of persuasion, and may sound very convincing. They may also become intimidating or threatening."
Tell them you'll go to the BANK and pay it, or your online bank account. Wire transfer? Never. Intimidating or threatening? Never. They'll work out a payment plan, and they'll be gracious while doing it.
Besides, isn't it illegal to shut off electricity in the winter? People here will immediately freeze to death.
Pretty much. People would freeze here too, or use space heaters or charcoal grills, and die from carbon monoxide.
If they don't pay their bill--it shouldn't be.
If you don't pay your phone bill, you're not going to DIE.
If you don't pay your cable bill, you're not going to DIE.
If you don't pay your rent or parking tickets on time, you're not going to DIE.
If you don't pay your school taxes, you're not going to DIE.
If you don't pay your credit card bill, you're not going to DIE.
If you don't pay your electric bill and the heat is cut off, you WILL die.
I guess you're OK with people freezing to death. I'm not surprised.
"You get a call from someone who says they’re calling from your utility company, telling you your bill is overdue, and if you don’t pay up, your power will be shut off. And you guessed it they want the money fast, usually through untraceable payment cards or a wire transfer. Scammers are skilled in the art of persuasion, and may sound very convincing. They may also become intimidating or threatening."
Tell them you'll go to the BANK and pay it, or your online bank account. Wire transfer? Never. Intimidating or threatening? Never. They'll work out a payment plan, and they'll be gracious while doing it.
Besides, isn't it illegal to shut off electricity in the winter? People here will immediately freeze to death.
Pretty much. People would freeze here too, or use space heaters or charcoal grills, and die from carbon monoxide.
If they don't pay their bill--it shouldn't be.
If you don't pay your phone bill, you're not going to DIE.
If you don't pay your cable bill, you're not going to DIE.
If you don't pay your rent or parking tickets on time, you're not going to DIE.
If you don't pay your school taxes, you're not going to DIE.
If you don't pay your credit card bill, you're not going to DIE.
If you don't pay your electric bill and the heat is cut off, you WILL die.
I guess you're OK with people freezing to death. I'm not surprised.
Why should the utilily companies be forced to give away their product for free? It's not their fault people don't pay their bills.
__________________
I'm not arguing, I'm just explaining why I'm right.
Well, I could agree with you--but then we'd both be wrong.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
I don't answer my phone if I don't recognize the number. Impossible to scam me if you can't reach me. Really it has nothing to do with scammers I just don't want to be bothered by annoying calls.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
Holy moly! We pay 11 cents per hour.
Heck, I shop for no more than a six month contract at a time.
I'm paying 3.1 cents per Kilowatt hour.
I'll have to shop again in April.
I just looked at my bill again. 3.1 cents for the energy charge. If you add in the delivery charge, we paid 8.8 cents per kWh.
-- Edited by Fort Worth Mom on Thursday 18th of February 2016 01:11:52 PM
What FWM said. Our electric bills on our small home were reaching the $500/month mark. When DH got laid off he did some research. Holy cow we were paying an astronomical rate. Now our electric bills are around $175-200/month. Huge difference. We could even get the two biggest bills a year free but we haven't filed the paperwork yet. We need to.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
Holy moly! We pay 11 cents per hour.
Heck, I shop for no more than a six month contract at a time.
I'm paying 3.1 cents per Kilowatt hour.
I'll have to shop again in April.
I just looked at my bill again. 3.1 cents for the energy charge. If you add in the delivery charge, we paid 8.8 cents per kWh.
-- Edited by Fort Worth Mom on Thursday 18th of February 2016 01:11:52 PM
Holy moly again! We have some shopping to do! Thanks!
What FWM said. Our electric bills on our small home were reaching the $500/month mark. When DH got laid off he did some research. Holy cow we were paying an astronomical rate. Now our electric bills are around $175-200/month. Huge difference. We could even get the two biggest bills a year free but we haven't filed the paperwork yet. We need to.
I'll tell DH to try that. We have a bunch of crazy companies here. Not sure I'd want to use them all.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
What FWM said. Our electric bills on our small home were reaching the $500/month mark. When DH got laid off he did some research. Holy cow we were paying an astronomical rate. Now our electric bills are around $175-200/month. Huge difference. We could even get the two biggest bills a year free but we haven't filed the paperwork yet. We need to.
What FWM said. Our electric bills on our small home were reaching the $500/month mark. When DH got laid off he did some research. Holy cow we were paying an astronomical rate. Now our electric bills are around $175-200/month. Huge difference. We could even get the two biggest bills a year free but we haven't filed the paperwork yet. We need to.
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
What FWM said. Our electric bills on our small home were reaching the $500/month mark. When DH got laid off he did some research. Holy cow we were paying an astronomical rate. Now our electric bills are around $175-200/month. Huge difference. We could even get the two biggest bills a year free but we haven't filed the paperwork yet. We need to.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
Holy moly! We pay 11 cents per hour.
Heck, I shop for no more than a six month contract at a time.
I'm paying 3.1 cents per Kilowatt hour.
I'll have to shop again in April.
I just looked at my bill again. 3.1 cents for the energy charge. If you add in the delivery charge, we paid 8.8 cents per kWh.
-- Edited by Fort Worth Mom on Thursday 18th of February 2016 01:11:52 PM
Wow, you have more than one place to buy electricity?????
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
We dont have a choice for water/electricity/gas, but all three together are less than $200 a month. That includes trash and recycle pick up, cut brush removal, and large item pickup every other week...
__________________
America guarantees equal opportunity, not equal outcome...
Our water keeps going up and up and up. And we don't have a choice for that. Ugh.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
We dont have a choice for water/electricity/gas, but all three together are less than $200 a month. That includes trash and recycle pick up, cut brush removal, and large item pickup every other week...
I suspect that you aren't paying for as many corrupt government officials as we are.
Or a seven billion dollar boondoggle. (Google "Shoreham Nuclear Power Plant")
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
Holy moly! We pay 11 cents per hour.
Heck, I shop for no more than a six month contract at a time.
I'm paying 3.1 cents per Kilowatt hour.
I'll have to shop again in April.
I just looked at my bill again. 3.1 cents for the energy charge. If you add in the delivery charge, we paid 8.8 cents per kWh.
-- Edited by Fort Worth Mom on Thursday 18th of February 2016 01:11:52 PM
Wow, you have more than one place to buy electricity?????
We do, ed! Texas deregulated electricity years ago.
Unless your neighborhood is part of a co-op. Then you're stuck. (Conor's is. He doesn't get to shop around.)
Ours isn't. So, I go electricity shopping every six months.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
Holy moly! We pay 11 cents per hour.
Heck, I shop for no more than a six month contract at a time.
I'm paying 3.1 cents per Kilowatt hour.
I'll have to shop again in April.
I just looked at my bill again. 3.1 cents for the energy charge. If you add in the delivery charge, we paid 8.8 cents per kWh.
-- Edited by Fort Worth Mom on Thursday 18th of February 2016 01:11:52 PM
Wow, you have more than one place to buy electricity?????
We only have one choice, but I can see why. Hydro Quebec built all the hydroelectric dams in Quebec, at the cost of billions and billions, so we have to buy all our electricity from them. Something like 99% of our power is from hydroelectricity. A bit of solar.
Where would other companies get their electricity FROM? Coal? We don't do coal.
We only have one choice, but I can see why. Hydro Quebec built all the hydroelectric dams in Quebec, at the cost of billions and billions, so we have to buy all our electricity from them. Something like 99% of our power is from hydroelectricity. A bit of solar.
Where would other companies get their electricity FROM? Coal? We don't do coal.
At one point we were (briefly) able to contract to buy electricity from a cooperative, set up by our village, which saved us the sales tax component.
Also the coop -- again briefly -- was able to buy some Canadian hydropower.
Then the decision was made that any cheap power would be sold only to companies that agreed to maintain or expand their employment levels in this area.
HA ! Like that worked.
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
Dad got a call, on a Saturday, that there was a bench warrant for his arrest due to failure to report for jury duty.
They don't call.
They show up.
__________________
A flock of flirting flamingos is pure, passionate, pink pandemonium-a frenetic flamingle-mangle-a discordant discotheque of delirious dancing, flamboyant feathers, and flamingo lingo.
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
I see you live in the Northeast, ed.
Yes, we sell quite a bit of power to the northeastern USA. We have more than we know what to do with.
It's not like you run out of kinetic energy. That water just keeps roaring over the dams.
They do have to be refilled at least once a day, and the heating element cleaned periodically.
But we can breathe. (Most of the time.)
We own this exact one. It runs 24/7. Still not enough sometimes.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
My humidifier bit the dust. I hang up a few wet towels around the house. Works like a charm.
I no longer shock the cat when I pet him.
DH shocks the dogs on a daily basis.
__________________
“You may shoot me with your words, you may cut me with your eyes, you may kill me with your hatefulness, but still, like air, I'll rise!” ― Maya Angelou
My humidifier bit the dust. I hang up a few wet towels around the house. Works like a charm.
I no longer shock the cat when I pet him.
DH shocks the dogs on a daily basis.
Try the wet towel thing. Or jeans, Something heavy. It really does work.
My son has a piece of complicated electronic equipment in his room. It stopped working. He looked it up, and they said it could be due to static electricity. Wet towel in the room worked wonders, and it's working fine now.
I don't have a choice but it is a co-op. I don't have a current bill so I have no idea what I pay per hour. It seems fairly reasonable & they never have outages in my area unlike other areas that aren't part of the co-op.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
That's BS, ed. Where do you think they get the money to cover what they "write off"???? From the money tree?
No. They get it from other ratepayers--raising rates for all responsible people who do pay their bills.
__________________
I'm not arguing, I'm just explaining why I'm right.
Well, I could agree with you--but then we'd both be wrong.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
That's BS, ed. Where do you think they get the money to cover what they "write off"???? From the money tree?
No. They get it from other ratepayers--raising rates for all responsible people who do pay their bills.
OF COURSE all the money comes from the ratepayers. And then, of course, there are the taxpayers, who pay for everything else.
I'm just still pissed that the ratepayers wound up paying for the cost-over runs on the $650million Shoreham Nuclear Power Plant.
Let's see, $650 million grew to $4.5 BILLION, plus interest ... current total $7 BILLION and counting. It really should have come out of the pockets of the stock holders, who would then have fired all the members of the Board of Directors, for allowing this outrageous stupidity.
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
That's BS, ed. Where do you think they get the money to cover what they "write off"???? From the money tree?
No. They get it from other ratepayers--raising rates for all responsible people who do pay their bills.
OF COURSE all the money comes from the ratepayers. And then, of course, there are the taxpayers, who pay for everything else.
I'm just still pissed that the ratepayers wound up paying for the cost-over runs on the $650million Shoreham Nuclear Power Plant.
Let's see, $650 million grew to $4.5 BILLION, plus interest ... current total $7 BILLION and counting. It really should have come out of the pockets of the stock holders, who would then have fired all the members of the Board of Directors, for allowing this outrageous stupidity.
Whatever--but that has nothing to do with this.
I don't see how this is such a difficult concept. If you want a good or service in our society--you have to pay for it.
__________________
I'm not arguing, I'm just explaining why I'm right.
Well, I could agree with you--but then we'd both be wrong.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
That's BS, ed. Where do you think they get the money to cover what they "write off"???? From the money tree?
No. They get it from other ratepayers--raising rates for all responsible people who do pay their bills.
OF COURSE all the money comes from the ratepayers. And then, of course, there are the taxpayers, who pay for everything else.
I'm just still pissed that the ratepayers wound up paying for the cost-over runs on the $650million Shoreham Nuclear Power Plant.
Let's see, $650 million grew to $4.5 BILLION, plus interest ... current total $7 BILLION and counting. It really should have come out of the pockets of the stock holders, who would then have fired all the members of the Board of Directors, for allowing this outrageous stupidity.
Whatever--but that has nothing to do with this.
I don't see how this is such a difficult concept. If you want a good or service in our society--you have to pay for it.
But when a car company deliberately, knowingly wastes billions of dollars for something they will use for less than 5 seconds, that will never generate revenue,
wouldn't the Directors be voted out by the stockholders? If Ford had to double the price of every care for 10 years to cover the cost of a deliberate screw up,
wouldn't they be unable to sell cars at double the price of GM or Chrysler or Mercedes? Wouldn't they go out of business, or be taken over by the Feds?
__________________
The Principle of Least Interest: He who cares least about a relationship, controls it.
Why should the utility companies be forced to give away their product for free? It's not their fault people don't pay their bills.
Because they are regulated monopolies, guaranteed profits by law. They set their rates to provide a certain annual return on their capital investment, after ALL expenses.
Including writing off bills they will never collect.
Our local electric company wasted -- deliberately wasted -- SEVEN BILLION DOLLARS on a nuclear plant that generated electricity for a few seconds before being mothballed.
That was long enough to justify adding the SEVEN BILLION DOLLARS to their base on which they are guaranteed a return.
So we are paying 23 cents per kilowatt hour, more than anywhere else except in Alaska. (Consolidated Edison in Manhattan comes very close, with their own nuclear boondoggles.)
That's BS, ed. Where do you think they get the money to cover what they "write off"???? From the money tree?
No. They get it from other ratepayers--raising rates for all responsible people who do pay their bills.
OF COURSE all the money comes from the ratepayers. And then, of course, there are the taxpayers, who pay for everything else.
I'm just still pissed that the ratepayers wound up paying for the cost-over runs on the $650million Shoreham Nuclear Power Plant.
Let's see, $650 million grew to $4.5 BILLION, plus interest ... current total $7 BILLION and counting. It really should have come out of the pockets of the stock holders, who would then have fired all the members of the Board of Directors, for allowing this outrageous stupidity.
Whatever--but that has nothing to do with this.
I don't see how this is such a difficult concept. If you want a good or service in our society--you have to pay for it.
But when a car company deliberately, knowingly wastes billions of dollars for something they will use for less than 5 seconds, that will never generate revenue,
wouldn't the Directors be voted out by the stockholders? If Ford had to double the price of every care for 10 years to cover the cost of a deliberate screw up,
wouldn't they be unable to sell cars at double the price of GM or Chrysler or Mercedes? Wouldn't they go out of business, or be taken over by the Feds?
Maybe, but even if the Feds take them over, They still won't give away free cars.
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I'm not arguing, I'm just explaining why I'm right.
Well, I could agree with you--but then we'd both be wrong.