We Energies must examine CEO's pay before pushing rate hikes | Letter
I see that We Energies requested a 9.25% and 5.5% rate increases for 2027 and 2028 (“We Energies electric rate hikes expected for 2027, 2028,” Nov. 4). Does it never end? Since 2023, rates have risen approximately 30%, according to the Citizens Utility Board for a monopoly with no competition and a guaranteed rate of return of approximately 10%. Any other business would salivate for these terms. Consumers are already struggling in an increasingly unaffordable environment. Food, fuel, housing and health care are at least subject to the market, more or less. Not We Energies. So what can be done? Clearly, the current system isn't working. A municipal utility owned by taxpayers? Opening the market to competition? Both deserve a look. We also need a Public Service Commission with backbone to stand up to We Energies and sincerely look out for the public, not one that rubber-stamps whatever We Energies brings forward. And it is past time We Energies looked within for cost savings before turning to double-digit increases. Why not start with executive pay? For example, the CEO earned $12 million last year. I hope our new governor and state legislature look long and hard at these never-ending requests
