PSO Fuel Rate Increase Request

[Steve]

So PSO now wants to increase the average residential customer's bill by $17.50/month due to higher gas prices.  I don't like it, but watcha gonna do?

What really bugs me is that they slap on a surcharge to cover their costs for the Dec. 2007 ice storm damage, conveniently recovering their expenses from we captive rate-payers.  As if the company's net worth/stockholders are immune to any loss.  The OK Corp. Commission should recind the approval of this storm cost recovery and let the PSO/AEP stockholders foot the bill, given AEP's reported high profits.

I was remarking to some friends about 2 weeks ago that I am more disturbed by the current rising natural gas prices than I am by gasoline pump prices.  In Mid May 2008, natural gas spot prices are at record highs, at a time of year when prices should be falling due to much less demand for gas heating.  And I have not heard of any natural gas supply shortage, or predicted shortage.  Crazy.  You think your electric bills are high this summer?  Just wait to winter 2008-2009 and your ONG bill!  Better layer on those clothes and woolen socks.

[charky]

I agree. All the complaining goes to petrol costs...while the cost of natural gas keeps rising as well.

I wonder if ONG will offer the "lock-in" rates again. I did it a couple of winters ago. Probably locked in at $6. []

I stick with the average monthly billing program. Budget-wise it works better for us.

[mrhaskellok]

We locked in gas prices for our community.  50% at around $11.  I bet we will be glad we did.  All indications out there show NGas not comming down anytime soon with a dramatic rise this winter.  

For those of you who have had a hard time paying your bills in the winter due to high gas bills, start TODAY putting money aside for your comfort.  Layers are ok, but you also don't want your home to get so cold you start having pipes break.  Then you will really be shelling out the bucks.

I predict $15Dth by Nov.

[sgrizzle]

quote:Originally posted by Steve

So PSO now wants to increase the average residential customer's bill by $17.50/month due to higher gas prices.  I don't like it, but watcha gonna do?

What really bugs me is that they slap on a surcharge to cover their costs for the Dec. 2007 ice storm damage, conveniently recovering their expenses from we captive rate-payers.  As if the company's net worth/stockholders are immune to any loss.  The OK Corp. Commission should recind the approval of this storm cost recovery and let the PSO/AEP stockholders foot the bill, given AEP's reported high profits.

Welcome to the world of regulated utilities. AEP has lots of business units, included non-regulated ones (non regulated = $$$$$) that generate a profit. PSO, the local company who actually provides your electric, makes little/no profit. Complain enough and legislature will push deregulation so your rate doubles (happened in Texas)

[patric]

quote:Originally posted by sgrizzle

Complain enough and legislature will push deregulation so your rate doubles (happened in Texas)

Deregulation is more or less the ability to get their rate increases without having to ask, and if the legislature were to push for that it would be the result of some heavy utility lobbying.

The present regulation would work if our CC were working for us instead of the corporations they regulate.

[rwarn17588]

quote:Originally posted by Steve

So PSO now wants to increase the average residential customer's bill by $17.50/month due to higher gas prices.  I don't like it, but watcha gonna do?

We have solar panels to cover 90+ percent of our electricity, and a wood stove for heat.

The fuel for our stove comes from all the big tree branches you folks left on the curb during the ice storm. I'm set for this winter and then some.

So, yes, there are things you can do.

[Steve]

quote:Originally posted by rwarn17588

quote:Originally posted by Steve

So PSO now wants to increase the average residential customer's bill by $17.50/month due to higher gas prices.  I don't like it, but watcha gonna do?

We have solar panels to cover 90+ percent of our electricity, and a wood stove for heat.

The fuel for our stove comes from all the big tree branches you folks left on the curb during the ice storm. I'm set for this winter and then some.

So, yes, there are things you can do.

I agree rwarn, I saved 90% of the tree debris in my midtown lot to burn in the fireplace for this comming winter.  It provided me with a free source of firewood, if only for one season.  I have found that my fireplace is only really heat/fuel efficient on mild winter days, and I only use it when the outside temp. is above 50 degrees.  But anyhoo, your use of solar panels is impressive, and I congratulate you on your efforts in energy conservation.