Got My Xcel Energy Bill Today

February 12, 2011 at 7:57 PM Leave a comment

Got my January Xcel energy bill today.

When I saw the amount due I immediately thought of this:  Xcel Getting Even Fatter Off of Colorado Ratepayers:

Xcel Energy just announced its 2010 earnings and the Minnesota based energy company did very well  this year:

We had another very successful year in 2010, said Richard C. Kelly, chairman and chief executive officer. We delivered earnings in the upper half of our guidance range. This represents the sixth consecutive year in which we have met or exceeded our earnings guidance.

What’s left out of that statement is the big thank you to Colorado ratepayers who delivered the majority of earnings. As we reported last month, Colorado’s 1.36 million ratepayers represent 25.7 percent of Xcel’s total customers, but through the third quarter of 2010, Colorado accounted for 51 percent of Xcel’s earnings per share. After four quarters, Colorado now contributes even more.

A big shout-out to the Colorado Public Utilities Commission members who are obviously owned by Xcel — its mission is a farce:

The Colorado Public Utilities Commission serves the public interest by effectively regulating utilities and facilities so that the people of Colorado receive safe, reliable, and reasonably-priced services consistent with the economic, environmental and social values of our state.

Yeah.  Right.

And then there’s this: Xcel Energy Inc. ― Colorado’s largest power utility ― paid its chief executive, Richard Kelly, more than twice as much in 2009 as in 2008.

According to a proxy filed Tuesday with the U.S. Securities and Exchange Commission by Minneapolis-based Xcel (NYSE: XEL), Kelly pocketed $11.3 million in total compensation for 2009, compared to $5.1 million in 2008 and $9.2 million in 2007.

And, to top it all off, there’s this:  Obama to Cut Heating Subsidies for the Poor.

The system is so rigged (against us).

Entry filed under: Corporatocracy, Energy, Fascist America.

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