October 29, 2006 - Public Utilities Should Be Publicly Owned

I am frankly bewildered by Tony Ondrusek’s comment that the collapse of the Constellation Energy and Florida Power deal represents a “disgrace” to the residents of Maryland (“Democrats’ dithering doomed the merger”, 10-29-06.)

What I find disgraceful is the record-high profits of the oil and utility companies who are gouging consumers with record-high rates-- Constellation Energy recently declared a 75% increase in third-quarter profits, and even larger profits are expected as the 72% rate increase is phased in.

This is money coming out of the pockets of working people and going into the bank accounts of fat cat CEOs.

Far from being a disgrace, the failed merger represents the best opportunity Marylanders have to take back BGE and set affordable rates because public utilities should be publicly owned and run in the interest of the consumers.

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