The June 29 "Derecho" storm demonstrated, again, that Pepco lacks the conviction to provide reliable power to DC residents.
As the reliability of the grid has plunged, rate payers have seen their electric costs double and grid maintenance dwindle, while Pepco paid hundreds of millions of dollars to shareholders, and showered top executives with millions in salaries and stock options.
Pepco is Unaccountable and Untouchable
The members of the DC Public Service Commission (the "PSC") insist they cannot address Pepco's poor performance. The Council of the District of Columbia has yet to approve any PSC nominees who might hold Pepco accountable. Therefore, Pepco remains unaccountable.
We, the undersigned, demand the Council of the District of Columbia support:
- Not another penny to Pepco for rate hikes: the PSC should disapprove Pepco's $39 million distribution rate increase while grid performance and reliability languish.
- Pepco to cancel all executive bonuses while reliability is in the bottom quartile of US municipal utilities.
- PSC to study "Game changing" alternatives to Pepco including stripping Pepco of its monopoly charter, municipalizing the DC utility, or forcing a sale of Pepco's DC assets to another more capable utility company.