Source: (PHOTO: Cristina Arias/Cover/Getty Images)
EVANSVILLE, Ind. — Hundreds of people packed two meetings in which state regulators heard from customers of CenterPoint Energy in Evansville on Thursday. The topic was a proposed rate hike the energy company is asking for.
Out of the dozens of people who spoke to the Indiana Utility Regulatory Commission, which made the trip to Evansville for the meeting, none of them spoke on CenterPoint’s behalf. The overwhelming consensus was that Evansville residents are fiercely against the rate hike.
The proposed rate hike would see the average power bill increase by $40 a month. CenterPoint says the rate hike is needed to support the utility’s efforts to transition from coal-based power plants to more renewable energy sources.
Among the naysayers of the proposal was Doug Hartman, who is an Evansville resident. He delved into some of the numbers revolving around CenterPoint and presented his findings to the panel of regulators.
“They have a CEO making over $30 million, return on equity the highest in their industry, glowing reports to shareholders in their earnings calls,” said Hartman. “Most recently, their CEO, Jason Wells, glowingly reported 9-percent non-earnings per share growth rate, which is the top decile in the sector.”
Several local leaders from Evansville and surrounding communities who would be impacted by the increases also spoke to the panel, including Newburgh Town Council member Allison Shelby.
“The system is broken here. It is not just this rate increase,” she said. “Our entire system in Indiana is broken, and it is hitting those of us in the southern region of CenterPoint the hardest.”
Evansville mayor Stephanie Terry (D) told the panel that many residents are already stretched thin on finances and that the rate hike may force several residents to leave Evansville and that it would also discourage new people from moving into the area.
A decision on the rate hike is not expected to come until sometime in the Fall.
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CenterPoint Draws Ire Of Evansville Customers Over Rate Hike Proposal was originally published on wibc.com
