This winter we read where customers’ bills skyrocketed when their energy usage had not changed or they actually reduced their energy usage. We also read about Avista’s CEO’s salary.
At the height of the stock market when the price of natural gas reached above $7, we paid high prices for it. Today’s price is below $4 and the price we are charged is still high. What is Avista paying for their long-term natural gas contracts?
Equity is defined as “the difference between the value of a property and the amount of money owed on the property. The amount of money the owner would realize if the property were sold.” Avista is allowed to earn up to 10.2 percent return on their equity. But what is their property really worth in today’s market?
The state attorney general’s office must sign confidentiality/protective agreements before they intervene for us with Avista. In California, they believe that the public’s right to know is more important than the utilities’ need for secrecy.
We should not pay for Avista’s mistakes and we should have the right to know what is going on behind closed doors. Keep those pitchforks and torches ready.