NL Power rate hike about greed, says writer
What is to become of the people of this province if Newfoundland Power is permitted to forge ahead with its planned rate hike come March 2013?
Newfoundland Power, as heard on the news recently, received a profit of $30 million-plus last year. Not too shabby at all. In their corporate greed to enhance their profit margin , under the proposed changes, this would balloon to roughly $45 million for 2013.
I am going to ask them to put faces to their numbers now — mine, yours and every person behind a minimum wage job or income support and old age. That $14 more per month may just be Marchs’ front page headline in
I know how you can raise
your profit margin. Cut your CEO salary and those of your executives by 7.2
2013. “A family of four found frozen in home because they couldn’t afford to pay for electric heat.”
Too harsh? OK, how about this? “Seniors becoming malnourished due to high electric bills.”
Still too harsh? Well, too bad because it is fast becoming a reality he r e i n N ewfoundl and and Labrador.
They (NL Power) say they need these exorbitant raises to maintain their bottom line. Really? Those working for minimum wage get barely enough to live on $10 per hour. Seniors get roughly $900 per month, that’s $30 per day which if you average it out is a little more than $1.24 per hour, and those on income support get roughly $26 per day, or $1.06 per hour.
We get hikes to our income at less than 4 per cent every year (more often than not it’s 2.3 per cent). Every year NL Power rates go up by four or five per cent, negating the slightest bit ahead to others.
I ask you and NL Power, can you now see how the proposed rate hikes will affect NL Power customers? They have the monopoly here in NL and again, as we saw on the news, there is no risk to them having such a hefty and healthy profit margin and return on investment.
So my question is, and I would like it explained in common everyday English, why is this hike necessary? Will your company really be hurt if you DON’T get a rate hike?
I know how you can raise your profit margin. Cut your CEO salary and those of your executives by 7.2 per cent. Have your own employees pay for their own lights and heat. Stop providing company vehicles to employees unless on company business, not to go to and from work.
These meagre suggestions should boost your overall profit margin by 7.5 per cent, and you would not be gouging your most v a l u a b l e a s s e t , Y OUR CUSTOMERS!
To all NL Power customers, I respectfully urge you to call your representative in the House of Assembly, call the citizens representative, and voice your concerns in the media. Complain to any and all. We can be the voice of change, but only by shouting as one. Stop the greed by NL Power. Wanda White writes from