Utilities actually aren't that 'greedy'

I read with great interest the recent letter from Mark Gelbart regarding the "greedy" energy companies ("Greedy energy industry hasn't changed," May 30). I think that he has missed a couple of critical points.

The utility companies have to go begging to government regulators for rate increases. This involves opening their books and operations to government bureaucrats who do not have a clue about how the utility industry works.

Mr. Gelbart appears to have a problem with capitalism in that the companies are "greedy." It also sounds as though he will be installing his own power system.

Whether it is solar, wind, hydro or burning his own methane, most utility companies are forced to buy, from the consumer, the extra power they may generate at the rate they charge the customer for the power.

When utilities produce or purchase power, it is to provide the cheapest power they can. Why? Few people are aware that they can purchase power from any other provider of the power, not just the local utility. That's called "competition."

When I went to school and took Economics 101, profits were put back into the company, in the form of research and development of new products, among other things.

So is Mr. Gelbart going to manufacture his own solar panels, not state-of-the-art ones from a "greedy" corporation? I would hope that he would hire a "greedy" contractor to install his panels. I hope he has an engineering study done by a "greedy" corporation, to design the system properly.

Mr. Gelbart should lighten up. Corporations are not all greedy, and if he doesn't like them, he should buy someplace else. I would suggest buying two sticks to rub together to make a fire for his energy needs.

Remember, the government does not manufacture one product, except money that is fast becoming worth less and less.

Capitalism is not the best system, but it far better than anything else that has been tried.

Mike Booth

Augusta

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