Last week we learned that WE energies had just been granted their third rate increase approval for this year. Well, being that it's only about the middle of the year, we can expect three more, right?
So, who wants to be a millionaire? I really didn't change the subject, here's why. We all would like to win millions of dollars in a lottery such as PowerBall. It only costs a couple of bucks to participate even though the odds of winning are about 80 million to one. Yet we continue to play thinking this could be the time. I could be the one. Then about after a week and a half of playing, some schmo from Idaho wins the 18 million dollars and we feel ripped off because we invested the four dollars that will go to somebody else I don't even know. So my odds of winning this were actually zero.
WE energies has a similar program. As customers, we kick and a few bucks every month that gets paid out to the winner of the electric lottery. The winner of course is the CEO. Every year, the CEO gets a big payout in the millions of dollars. As believers of private enterprise, Americans would tend to think of this as fair. But how fair is it really? Three increases in six months? A multimillion dollar annual payout? Because of these increases, the average user will pay an increase of several dollars per month. Not really a lot though is it? But think of it this way. One of the three increases for this year, one is going directly into the pockets of the the CEO.
While the rest of us have to choose between putting gas in the car and, well, anything else for example, just think the one person who will be able to fill up the Cadillac Escalade and drive down to the marina for an afternoon of boating. If you change the light bulbs in your house to compact fluorescents to save on your energy bill, the energy company will ensure that you will pay more. And several bucks each month will go into the pockets of the CEO. His odds of getting richer-one. Your odds of getting rich-zero.
The era of cheap energy is becoming a distant memory. Whey doesen't the CEO take a cut in salary or bonus like the airline companies do? It's as if there was an electric lottery. It only costs us a few bucks a month. There was a winner. It wasn't you and it wasn't me. We could use those few bucks to play the Powerball. The odds of 80 million to one is still better than 80 million to none.