West Virginia's penny wise and pound foolish legislators have passed a bill that would enable the Public Service Commission to approve the issuance of bond debt which would allow Appalachian Power to recover its cost of coal over the past 4 years. The long-term debt will be repaid by electric consumers in their monthly bills over the next decade. Coal prices are expected to continue to increase in the future.
I'm not going to harp on why this is completely wrong anymore. I'll turn it over to an expert - James M. Van Nostrand, Director, Center for Energy and Sustainable Development and Associate Professor of Law, West Virginia University College of Law. Read his analysis of West Virginia's big mistake here. When our legislators and Public Service Commission won't listen to learned experts, but instead choose to buy into the pie-in-the-sky promises of corporate lobbyists, it's time to clean the state house, before we go bankrupt trying to stay warm in our own house.
I'm not going to harp on why this is completely wrong anymore. I'll turn it over to an expert - James M. Van Nostrand, Director, Center for Energy and Sustainable Development and Associate Professor of Law, West Virginia University College of Law. Read his analysis of West Virginia's big mistake here. When our legislators and Public Service Commission won't listen to learned experts, but instead choose to buy into the pie-in-the-sky promises of corporate lobbyists, it's time to clean the state house, before we go bankrupt trying to stay warm in our own house.
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