Someone in the medicare business once told me that when it comes to Government Contracts - there's no such thing as non-profit, we might say they're not for profit - but we make one.
Well what's true for one sector of government contracts is probably true in others. What's shocking though is how much of a push over state regulators are when it comes to allowing these payoffs.
I'm speaking of course of SCE&G. Just saw on the wires where they're planning on passing off 12.5 million dollars off on electricity consumers for the cost of fuel for their plants, well being south Carolina we know what that fuel is. These are the same people in consortium and supportive of building a new coal plant on the Pee Dee River and opposing home owners and businesses the opportunity of becoming personal utilities.
This news of course comes on the heels of a report that deals a major blow to South Carolina's economic pysche (but which her citizens have been painfully aware of for the past 20 years): South Carolina Incomes among US lowest in '07 .
Random moment of sarcastic melo-drama: You mean we're at the bottom, again?!
Wednesday, March 26, 2008
Are you kidding me?
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It is just mind numbing to think about how much money $CE&G runs through providing electricity and natural gas to the people in this state when electric co-ops do it for about half the price. Government regulated monopolies, or anything for that matter that is subjected to government regulations, always find a way to have more overhead than the private companies that provide the same services. $CE&G claim that it cost them more money to generate hydro electric power at the lake muarry dam than it does for them to generate electricity from coal at the plant right next to it.. and this was before the 2nd dam was even thought about. When your margins are fixed by the government as they are for $CE7G the only way to make more profits is to spend more money. 10% of $100,000,000 is a lot less than 10% of $200,000,000 . So if you could only make 10% profit how much money would you rather spend?
~Sean
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