Pay Me Now for a Power Plant Later

AmerenUE and KCP&L are working the capitol hard this year to pass a bill that would allow them to charge consumers for the cost of building a new power plant a decade before it goes online.

Some people may remember that back in 1976, the people of Missouri decided that this sort of practice would be illegal. With a 2-1 margin, Missourians said that monopolies couldn’t raise their rates for new construction until they were reaping the benefits of that construction. A law that these monopolies now want to see reversed.

What is most interesting about this debate is that the same Republicans who adamantly oppose increasing taxes during a recession line up to sign on to increase energy rates during a recession.

It may be that this increase will affect lower income Missourians more than their wealthy friends, or it may be just that they sit comfy in the pockets of the utility companies, but either way it shows their incredible hypocrisy.

While it’s still early in the session, it seems likely that this bill will pass with an overwhelming majority (just look at the co-sponsors). Once again, corporate welfare will win out and Missourians will get screwed.