EID by the numbers…
EID’s Jim Abercrombie this week showed charts that water 2012 rates are about to “sky-rocket” another 28 percent for EID’s “medium usage” residential water customer. This additional 28 percent follows rate increases of 18 percent in 2010 and 15 percent in 2011. Another 11 percent rate increase already is targeted for 2013.
Overhead spending is budgeted to leap another $1.2 million following a $10 million increase in the last eight years. EID debt totals a whopping $390 million, up $280 million in the last eight years. Another $60 million of new debt already is being planned that will add another 9 percent to rates.
As a member of EID’s Cost of Services panel, I don’t agree that 35 percent of rates going to pay for debt and 30 percent of rates going to pay for overhead are appropriate costs to foist on ratepayers. Why did EID have to add $9 million of brand new IT projects at the same time it is readying a 28 percent rate increase? Why do EID employees receive $18,500 medical plans and $12,500 pension contributions, and as much as 10 weeks paid time off each year? Why does EID have $137 million of excess capacity, yet plans to add another $8 million to that value in 2012?
EID’s current Directors are not looking out for the ratepayer…instead barking out the signals “18 percent, 15 percent, 28 percent, 11 percent … hike, hike, hike, hike!”
So when you vote for EID Directors on Nov. 8, remember that you have a choice to vote for more of the same from George Osborne and Harry Norris …or less of the same from Ray Van Asten and Alan Day.