HIGHER RATES... HIGHER EARNINGS
HOW'S THAT WORKING FOR YOU?
WE Energies raised our rates twice already this year and... shocker... their profits are up 22%.
Wisconsin Energy Corporation just announced first quarter profits are up 22% percent over last year. How'd that happen?
The line from the company is that our brutal winter drove demand, hence their higher earnings. In other words, we sold more energy, so we made more money. Makes sense.
They're not talking about the fact that they raised our rates, twice in just the last 4 months. The first go-around was in January, and then again in April, just a couple weeks ago. How about that. You charge more for something, you're going to make more when you sell it.
Quoted in the Milwaukee Journal Sentinel Tuesday, Chief Financial Officer Allen Leverett said, "The continued increase in energy prices will have a negative impact on our business."
Really? What's the difference? Every cost to the company is passed on to the consumer. It's not WE Energies absorbing these high costs; it's us. I'm not a Wall Street analyst, but up 22% looks pretty good to me.
You see a lot of other companies around here up 22%? Is yours?
The company I care most about in the world... Vince Vitrano's Wife and 3 Kids Incorporated... sure isn't up 22% this year. In fact, since every other company out there is charging more for everything... we're down this year. How about you?
Okay, enough complaining and now for the constructive part of this entry. Wisconsin Energy Corporation, the parent company of We Energies, is a publicly traded company trying to make as much money for its shareholders as it can. Tough to blame them.
No worries. We can blame someone else. The Public Service Commission.
Everything is up right now. We all know that. Here's the difference. We have a choice whether we want to buy gas, and how much. We choose what groceries we buy and where we buy them. We can defer luxury items if we want. We can't decide not to heat our homes or to live without electricity, and we don't get to choose where we get it from.
That's why the Governor of our State appoints 3 commissioners to the Public Service Commission. They must approve any rate hikes, and they approved the last two for We Energies. If you don't like it... tell them about it.
Above is a link to the website that has all their emails on it.
emails to me: email@example.com