Tuesday, October 10, 2006

Illinois to Repeal Laws of Economics

The Illinois House Utility Oversight Committee voted 9-4 to extend the ill-conceived electrity rate freeze for an additional three years. Not only is it absurd that the vast majority of people do not understand the impact of such a freeze, politicians are failing in their duty to explain it.

I'm not sure that I believe Com-Ed's prediction of bankruptcy, but the freeze is only going to delay the inevitable. Meanwhile, loudmouth know-nothings are showing their ignorance for all to see.
That's why Citizen Action/Illinois supports extending the current electricity rate freeze for three more years, protecting consumers from unjustified rate hikes while still allowing the utilities to make healthy profits.

Rates have been decreasing in real terms for nearly a decade - how, exactly is a rate hike unjustified? Eventually rates will have to be raised; that is unquestionable. The longer obstructionists delay that painful step the more likely we will see disruption in supply and the larger the increases will be.

If I didn't live in Illinois I would wish a pox on all these idiots - but I don't want to have to suffer for their ignorance.

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