Gov. Jay Nixon has until Friday of this week, July 12, 2013, to veto Senate Bill (SB) 240 which modifies ratemaking provisions for gas coporations. If the governor DOES NOT veto this legislation, gas utilities could raise rates repeatedly without close oversight for five years that could cost Missourians as much as $500 million!
AARP is fighting for you on this issue, but your help is also needed. Here are the facts:
~ The bill means hundreds of millions of dollars more in natural gas surcharges to customers. The surcharges would pay for pipes and other infrastructure, which the utility should already have calculated in its budget. Families can’t absorb repeated rate increases into their budgets. Missourians are still reeling from the recession. Many are un- and under-employed.
~ It distorts the ratemaking process in favor of the gas companies. The bill allows them to make huge profits for five years before they have to justify their rate increases under the scrutiny of the Public Service Commission
~ It forces consumers to pay for their neighbors who fail to pay their bills. The so-called “bad debt tracker” would make consumers pay for 90 percent of the company’s bad debt. If someone else is paying why would the company work to minimize its bad debt?
~ It will deny consumers their share in huge savings from the coming lucrative merger of Laclede Gas and Missouri Gas Energy.
We urge you to call Gov. Nixon at 573.751.3222 or sent him an email at http://governor.mo.gov/contact and urge him to veto SB240. Call or send an email today!