The American Spectator

According to Politico, in a story I cannot find on-line but had emailed to me, some utilities have shown again that while individuals have principles, businesses have business plans. With rare exceptions, the twain don’t meet all that often.

And, now, there’s a buck to be made, off of you, in the most cynical and economically harmful fashion possible. You think they’re going to say ‘no’? Why, don’t you know how to be a wise man in Washington? It’s an easy four-step process. Try it out at the Caucus Room or Capital Grille. You’ll be amazed at the friends you make:

Well, you can’t just say ‘no’

We have to do ‘something’

It’s inevitable

I just need certainty

Voila. Washington Wise man.

To wit:

Pro: Power company CEOs don’t back GOP drive to throttle EPA

By Darren Samuelsohn

Top power company CEOs rained on the Republican parade Tuesday as Congress eyes legislation forcing an outright halt to EPA climate change rules.

The leaders - from American Electric Power, NextEra Energy, Southern Co. and Dominion Resources - said to varying degrees that they support allowing the EPA to proceed on a “reasonable” time frame on greenhouse gas rules for power plants, petroleum refiners and other major stationary sources.

They also didn’t sound so thrilled with the draft bill pre-empting the EPA that House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) plans to start moving later this spring.

“I think that’s probably a bit strong,” said Michael Morris, president and CEO of Columbus, Ohio-based AEP, in an interview at an energy industry conference in Washington. “Congressman Upton is a dear friend and a very strong leader and a visionary elected official, but I think even he knows that that probably isn’t going to happen.”

“I don’t support complete preemption,” Lewis Hay, chairman and CEO of NextEra Energy, a Juno Beach, Fla.-based power company, told POLITICO. “When I look at what EPA has done so far and the position they’ve taken on greenhouse gases, I think it’s actually been pretty moderate.”

NextEra is the biggest windmill rent-seeker among utilities, I believe. They’ve got ‘em, are stuck with ‘em, and need you to pay them off with a guaranteed ROI. And, yes, Mike Morris of AEP would think doing the right thing is little bit strong.

You see, around the same time as the Exelon revelations I have noted here on occasion, Morris, the CEO of America’s largest coal burning utility, American Electric Power (AEP), also opened up to Forbes to admit that the carbon dioxide rationing scheme-which, by chance he, too, is promoting, with the same windfall in mind as Exelon-would add billions in additional costs to his company, certainly, but he chuckled at the beauty of it: they get to pass those billions on to the ratepayer, with a little something on top for themselves. Under cost-recovery schemes giving a percentage for their troubles, the more it costs, the better. See e.g., here.

These people deserve to be publicly shamed. It’s a profit scheme off of the average ratepayer’s back to the detriment of the economy. AEP, Exelon, GE, DeutscheBank, all of you rent-seekers, be forewarned. The public will figure this out before it’s too late.