NL Power rate hike about greed, says writer

The Compass - - OPINION -

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

per cent.

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

Broad Cove

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