So Portland General Electric is raising rates again? What a surprise.

Actually, it’s not a surprise. They do it every year and always try to explain why they are forced to do it which is crap. I don’t understand their reasons such as “decline from Oregon’s moribund industrial sector.” I had to check my dictionary to see if I knew what “moribund” was and I did. Why didn’t they just say “dying”; that’s what it means. So we are penalized because industry has hit a slump?

They also talk about diluted shares. What the hell are diluted shares? And they want the return for the shareholders to go back to 10% whereas they are forecasted to get only 7 to 8 percent in 2010. Most people would be thrilled to get 8% on something. I know I would. PGE Chief Executive Jim Piro told financial analysts Thursday the following: “In spite of continuing efforts to control our operating costs, I am disappointed with projected 2010 earnings. As a result we are taking actions to address the lower (returns) by aligning customer prices to provide our shareholders with a reasonable rate of return.” So we, the customers, are going to pay more so their shareholders can receive more. What a bunch of bullshit.

I’m afraid things will never change. We thought they would after Enron, but it just got worse. Now when people are having a terrible time keeping up with all their bills which keep rising, it’s like a slap in the face to hear we have to suffer so their shareholders can be satisfied.

The picture above is of my two little girls on their way to school. They came out of a warm house because in those days, we used oil and never had a problem.