The monopoly regulators’ creed

Posted 3/12/20

Saluda Broad’s friend, Jim Clarkson, CEO of Resource Supply Management, sent this along to share with her readers:

“We, the Public Service Commission, exist to provide protection for the …

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The monopoly regulators’ creed

Posted

Saluda Broad’s friend, Jim Clarkson, CEO of Resource Supply Management, sent this along to share with her readers:

“We, the Public Service Commission, exist to provide protection for the monopoly utilities while they systematically pillage and plunder energy-using consumers. It’s a shame that the public is abused like this, but we are the PSC and that’s what we do.

“Under the guise of ensuring utility prices are reasonable, we help managerially-challenged utilities obtain profits far higher than they could earn in a competitive market but we are the PSC, and that’s what we do.

“We pretend to watch for wasteful utility expenses passed on to customers. This encourages them to be more wasteful but we are the PSC and that’s what we do.

“As we watch, the utilities engage in sweetheart deals with affiliated companies so costs are shifted to the regulated business and profits shifted to the unregulated business. This rewards bad faith dealings, but we are the PSC and that’s what we do.

“We impose a huge regulatory cost on consumers, foster monopoly exploitation and expand corruption to everything we touch but, hey, that’s what we do.”

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