The utilities and the Park Service have been quite secretive about the private conservation organization, how the money will be used, and what properties are being scoped for purchase.
The Pocono Record has been investigating this secret, unholy alliance to come up with some answers for the public.
Conservationists try to short-circuit power line project in Del. Water Gap park
Conservation fund eyes 4 properties near Delaware Water Gap National Recreation Area
The private conservation organization who will administer this fund, while scooping off a hefty percentage for themselves, is corporate greenwasher The Conservation Fund, whose Director is compensated at the rate of nearly half a million dollars a year.
The Pocono Record has identified five parcels of land, out of many, to be purchased. Why the secrecy?
The "mitigation fund" extorted from the utilities will be reimbursed to them by all electric consumers in the 13-state PJM region, plus a 12.93% yearly return on equity on the unpaid balance. The utilities are using YOUR money to pay their "blood money" bribes needed for permission to destroy YOUR park, and earning interest on it.
Johnson said the rate of return is in fact 12.93 percent and said it is true PSE&G would earn a rate of return on the land purchase.
"The current rules say the cost of a project such as this will be shared by electric customers who will benefit," she said.
This $66M "secret" mitigation fund is YOUR money. Where's the required transparency in electric rates you are charged when amounts spent are mired in secrecy? Why is no one holding the utility feet to the fire and utilizing existing transparency processes to dispel all this secrecy?
Continued secrecy will only build on public suspicion and contempt. It's time for PSEG and PPL to come clean, before the public is forced to use due process to uncover these juicy secrets.
What are you trying to hide, PSEG & PPL?