As Stark Countians get set to enter 2009, one prospect that should be getting all of us excited is the reality that Ohio Power users are going to see an increase in the monthly electric bills.Many area elected officials have chimed in to object.
Two notable exceptions. Stephen Slesnick, who represents the 52nd Ohio House District and Scott Oelslager (unopposed in the November, 2008 election - thanks to Stark County Democratic chair Johnnie A. Maier, Jr).
What gives guys?
Another non-elected official who doesn't seem to care much? The Canton Repository.
Look at the adjoining chart of the most profitable industries (2007) published by Fortune 500. At the rate that AEP companies Columbus Southern and Ohio Power (Stark County's most voluminous provider of electric power), these AEP entities would have ranked 1 and 4, respectively; only problem is - they are monopolies and not "free-market" competitors.
The STARK COUNTY POLITICAL REPORT'S (The Report) friend who resides in Louisville has written a blurb which aptly describes the work over AEP is doing to Stark Countians, to wit:
For the first nine months of 2008, the after-tax returns on common equity earned by CSP and OPC were 23.48% and 13.5%, respectively. These extremely high earnings mean that the Companies are currently recovering all of their costs, plus a healthy profit, under existing rates. Their proposal to increase rates by $2.816 billion annually by 2011, assuming the fuel adjustment clause increases are at the maximum annual amounts and that there are no deferrals (total of $5.823 billion over three years) has not been justified as prudent or reasonable, especially in this time of state-wide economic depression.
A BILLION HERE AND A BILLION THERE, AND SOON AEP WILL HAVE ALL THE MONEY AND WE'LL HAVE NONE. AIN'T LIFE GRAND?
Apparently Representatives Slesnick, Oelslager and The Repository have no apprehension at all about what is about to happen to most Stark Countians come 2009?
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