More on power issues

August 18th, 2003 – 7:58 pm
Tagged as: Uncategorized

Dennis Kucinich, one of the Democratic candidates for President, has been guest blogging over at Lawrence Lessig’s excellent blog, and yesterday he posted a timely piece about the deregulation of public utilities:

Utilities used deregulation to effect a series of mergers limiting competition. In order to accelerate profits, cost cutting ensued, involving the layoff of thousands of utility company employees, including some who were responsible for maintenance of generation, transmission, and distribution systems. A number of investor-owned utilities stopped investing in the maintenance and repair of their own equipment, and, instead, cut costs to enhance the value of their stock rather than spending money to enhance the value of their service.

He’s had personal experience in dealing with the greed of utility companies, and his post is well worth a read.

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