Tbf, my city has a publicly owned utility company and it suuuuucks. Literally writing this comment on my phone during a 12 hour power outage during perfect weather.
Deliberately underfunded or mismanaged, maybe. It’s been like this since the 90s at least. But I don’t think they need any intent for a buyout for it to suck. Afaik, there is zero interest from any private buyers for our utilities.
If I had to point to a specific failure, it’s that the rates are set by city council, and raising them is wildly unpopular. Everyone who proposed it loses re-election. We have some of the cheapest power in the world but fat lot of good that does when it’s not on.
How does that work? They still have to buy the power from someone, and those prices have increased. Or do they own their own power plant/turbine/whatever. Then they should sell the excess and subsidize their citizens.
They buy most power from TVA, the rate city council controls is the fixed rate markup they charge on top. Our power is $0.07/kwh by the time you pay for it.
Publicly owned means owned by the government. You are thinking of publicly traded companies, which are non public companies that have opened up stock ownership to the public
Tbf, my city has a publicly owned utility company and it suuuuucks. Literally writing this comment on my phone during a 12 hour power outage during perfect weather.
I bet it’s being deliberately underfunded and/or mismanaged to support an eventual attempt to privatize.
Deliberately underfunded or mismanaged, maybe. It’s been like this since the 90s at least. But I don’t think they need any intent for a buyout for it to suck. Afaik, there is zero interest from any private buyers for our utilities.
If I had to point to a specific failure, it’s that the rates are set by city council, and raising them is wildly unpopular. Everyone who proposed it loses re-election. We have some of the cheapest power in the world but fat lot of good that does when it’s not on.
How does that work? They still have to buy the power from someone, and those prices have increased. Or do they own their own power plant/turbine/whatever. Then they should sell the excess and subsidize their citizens.
They buy most power from TVA, the rate city council controls is the fixed rate markup they charge on top. Our power is $0.07/kwh by the time you pay for it.
Do you mean municipally owned? Publicly owned would mean it’s traded on the stock market.
Publicly owned means owned by the government. You are thinking of publicly traded companies, which are non public companies that have opened up stock ownership to the public