Editor,
I have done as much research as I possibly could in the last five days on House Bills 398 and 535. I am not an expert on energy policy, nor do I claim to be. What I will say is that, as a concerned constituent, legislators are either not being fair and transparent about these bills, or they refuse to speak up when they know it will hurt their constituents. Legislators are forgetting who they were sent to Frankfort to represent.
These bills work hand in hand. HB 398 makes sure that when a plant is closed the cost of decommissioning, retirement, and the overall cost of closure, can be put on the ratepayer’s bill even when no new plant is scheduled or planned to open in the region and provide energy to its customers.
However, HB 398 does require the PSC to approve this closure, which I believe is a good aspect of the bill. The issue lies in moving the cost on consumers
HB 535 allows utility companies to purchase securities, which is a fancy way of saying they’re going to refinance the debt. It removes the provision that utility companies prove to the PSC that these refinancing opportunities could save ratepayers money.
HB 398 locks in a cost to customers, and HB 535 stretches it out, so it doesn’t look as bad. Just because it doesn’t look bad, doesn’t mean that it isn’t bad. These bills have the potential to make our energy affordability crisis worse, not better.
I’ve spoken with constituents about their electric bills and their usage. Most speak of times when they wish they could have done something. Whether it’s holding utility companies or legislators accountable. Most didn’t because they were unaware the legislation had been filed or the PSC meetings took place.
This week, I’m putting my political opinions aside, and I’m traveling to the capitol. While there, I will attempt to speak with any legislator or official that will listen to my concerns. I will be asking legislators if they support the PSC’s authority to verify savings, whether they believe that the risk is balanced between utility companies and ratepayers, and whether energy burdens in East KY have been considered while writing these bills.
If you are just as concerned as me, and have questions or suggestions, follow my personal page. I’ll be providing an update after my day with legislators soon. Everyone, regardless of political affiliation, should be concerned because…
Everybody pays an electric bill!
McClain Dyer
Concerned Constituent
