"IT'S ALL OVER NOW BABY BLUE" bob dylan
Well it's happening all over the Midwest anyway.
It's like deja vu all over again.
BATAVIA RESIDENTS SPEAK OUT AGAINST ELECTRIC RATE INCREASE
November 20, 2013
BATAVIA- Residents at Monday's Batavia City Council meeting objected to a proposed increase in their electric bills. Batavia Public Works Director Gary Holm has told aldermen that additional revenue would be needed to account for increase purchase power costs and depletion of rate stabilization reserves.
Holm told aldermen that even thogh the city's consumption is down, its overall cost for purchase power is up. 'For the period from 2010 to 2013, our purchase power costs have increased a total of 7 million, or about 30 percent,' he said.
In 2007, the Northern Illinois Muncipal Power Agency, of which Batavia is a member, agreed to a long-term power contract to purchase electricity from Prairie State Energy Campus in downstate Illinois.
Resident Sylvia Keppel at Monday's meeting criticized the deal. ' I can't understand why there were no escape clauses,' Keppel said during a public hearing on the city's proposed $95.6 million budget. ' You left no out when you signed those contracts,'..'This is a toxic asset that we need to dump,' Keppel said have you thought about going after NIMPA that got us into this?'
Well Sylvia I hope you can get your aldermen to send a letter? One may even suggest it was a gamble, and lets wait and see maybe in another twenty years this might end up being a good deal, and another suggesting that no one else has sent anything, why should we speak for everyone? Look at it as an unexpected brake job?
Now at the recent meeting that the AMP-OHIO thieves attended they brought out September levelization costs. A little over $39,000 and the plant running at 68%. I wondered than why since it was almost the end of November why they didn't have at least October numbers? Well they had the numbers and I will share them with you now.
Rate levelization for October for Painesville .... $113,696.89 to get the cost to around $73.00 MW which is high to begin with.
The plant ran at about 47% capacity. Still want to take a wait and see Mr. Fodor?
I can't wait for the November numbers.
When AMP-OHIO made the presentation in Painesville. they said they had borrowed $1.46 million on their line of credit for rate levelization . Let's ask them what AMP-OHIO borrowed on its line of credit through November, 30,2013 and how much Painesville will have to pay them back? Mr. DeLeone this is one interesting budget billing scheme.
An interesting question to all of council AMP-OHIO, NIMPA MJMEUC, IMEA ect, who regulates these people? NO ONE!
What a fool I have been. To believe some of those millions in Painesville's electric fund cold be used to improve Painesville? No AMP-OHIO/ Peabody Coal has set it's sight on that fund and comes to town like a vultures to take that fund to the bone.
Thank-you again Rita and Joe.
God help us all on this mess.
posted by terminator1 @ 9:55 AM
19 Comments
19 Comments:
>Retirement Open House for City Council President Joseph Hada, Jr.
Monday, December 16th from 5-7pm at the Painesville City Fire House.<
.
I'm bringing a rail. Someone else bring the tar and feathers!
Best guess Cleveland, Ohio levelization costs close to $300,000 ? So what let's build stadiums?
@ 3:50 - LOL
The Prairie State contract, debt repayment, borrowed money, bond, high rates, is costing the city of Painesville, all residents and businesses $42,000 a day ... this is money thrown away ,... every single day for the next 49 years.
8:05 This number is interesting as well as hard to believe. $42,000 a day? Please do the math for us.
Painesville Borrowed 100,000,000 million dollars in bonds (including) the interst to be paid out over decades for their portion of the PRAIRIE STATE FIASCO.
All of it without a vote from the citizens.
They intend to pay that money back via higher rates, much higher rates.
11:49 Very interesting numbers, where can I find them?
Look I've been to two storm water meeting and many question the cost of $33,000 where is the concern with the AMP-OHIO contracts?
contact Sandy Buchanan ...
sandy buchanan@ieefa.org
or Tom Sanzillo
tomsanzillo@yahoo.com
These are the two mentioned most frequently in the Columbus Dispatch and warned all the communities.
There is NO concern regarding AMP, as the local council members are being paid to ignore the problem.
When you calculate the bond figures, you must also calculate the interest charges for it over 30 years .. this is the net cost of the boondoggle.
8:19 I will contact Sandy Buchanan she attended the AMP-OHIO presentation at the November city council meeting.
One thing I take as way off base that some on council are ignoring the problem due to some kind of kickback? Do you have any proof to that.
I am positive Ms. Buchanan never made the accusation.
It's a bad enough situation without claiming fraud to innocent people.
There may be no fraud, but I wouldn't call council "innocent people".
10:38 I meant by innocent, people with little or no knowledge of Electric power.
Most council's have teachers, private business people, homemakers, telephone receptionist, school bus driver's, ect. nothing wrong but what knowledge do they have about electricity?
When AMP-OHIO came to council in 2007 they were given all the time they wanted to sell their program. If you were against it THREE minutes?
That brought up me wanting a charter change that included a vote by the people. On deal's such as this. Do the people know better? Not really but it would make it fair to them to hear both sides.
Ms. McMahon shot that one down.
Remembering back I thought council rammed those deals through council.
Yes I questioned it then to council.
I personally won't believe there wasn't fraud until there is a large enough investigation to prove it. Even if McMahon, Hada and the rest of council that voted yes were stupid enough to think we should be in a take-or-pay 50-year COAL contract where WE were the owners, the citizenry was not, and told them repeatedly over a very long period of time, while McMahon and Hada lied about and hid the details. I'm not buying it. We need serious federal investigations into this mess, and the sooner the better.
8:19 I contacted Sandy Buchanan and quizzed her on your numbers.$42,000 a day? well if you check with the city we presently receive a bill monthly of around $1,100,000 dollars look some of that includes power we buy off the market, that said subtract PSEC and the purchases seem reasonable.
$100,000,000 million in bond payments.
Painesville is paying $222,000 in debt service a month, separate from the power they purchase. So in one year we pay AMP-OHIO at total of $2,664,632.00 in 35 years this comes to $93 million.
That's one Hell of a mortgage payment! Them's a lot of potholes.
Odd AMP-OHIO never mentioned those figures, and am I to believe the CM and LD of Painesville signed a contract with no numbers in the contract?
@ 2.39
You are forgetting the debt that is increasing everyday as the LEVILIZATION that goes on each month has to be paid back as well.
Yes, Painesville city council did sign a contract with no dollar figures in it. Imagine telling a builder I want a 4 bedroom home built and he gives a bill for 3 million after it's done, when a different builder could have built an identical home for 175,000.
Lets not forget, should any AMP community involved in this nightmare, default on the bonds, the remaining communities have to pick up the debt and powerload from that community. Painesville is now responsible for the financial healt of Galion. Given Galions track record as being the largest fiscal bankruptcy in the state of Ohio it looks bleak for all involved in this.
You can't make this stuff up.
We know AMP has hired former city officials after their city contracts for PRAIRIE STATE were signed.
We know AMP is giving SCHOLARSHIPS to city officials kids that signed up for PRAIRIE STATE.
Where there is smoke, there is fire.
Well said, 10:24. We need investigations.
1:13 Yes we do.
10:34 What I have found so comical in these stormwater meetings are the number of people that question the $33,000 fee to find answers.
At the same time the city electric department is bleeding money non-stop. Some one told me once if you can't explain the problem in 10 seconds don't bother. AMP-OHIO problems need days to explain.
Celina Ohio increases electric rates
http://www.ci.celina.oh.us/documents/11-11-2013.Minutes.pdf
Just one of many coming for them ...
Celina contracted for 50% more power than Painesville did
So just wondering, maybe a lawyer out there knows the answer to this: If there is NO dollar consideration in the contract, and it is a contract to purchase, is it a legal contract?
7:39 It appears Celina will raise electric rates 3.5% acroos the board? Wonder if it's do to PSEC ?
Post a Comment
Subscribe to Post Comments [Atom]
<< Home