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Meet the new boss

Here’s a new and sobering report from Democracy NC on the proposed Duke-Progress behemoth…  

“Merged Utilities Would Create State’s Top Corporate PAC,

115 of 170 NC Legislators Have Duke/Progress Donations

The merger of Duke Energy and Progress Energy would not only create the largest electric utility in the nation. The combined lobbying muscle of the two companies would likely produce the most politically influential corporation inNorth Carolina, according to an analysis by the nonpartisan watchdog group, Democracy North Carolina.

“Duke and Progress Energy have consistently sponsored political action committees that rank among the top 10 in the state, and together they would surpass Bank of America to form the largest corporate PAC in North Carolina,” said Bob Hall, executive director of the group.

“Their combined spending on NC and federal lobbying and political donations hit $19 million in the 2009-2010 cycle,” he said. “Total political spending over the past 8 years is $52 million – just for NC and national politics, not counting spending in other states like FL and SC where they operate.”

Hall noted that 115 of the 170 state legislators elected in 2010 got a donation from one or both of the utilities; the top legislative leaders from both parties received at least $13,000 each.”

 You can read all the grisly details, including some handy-dandy charts, by clicking here.

 

2 Comments

  1. david esmay

    October 19, 2011 at 7:00 pm

    Just the thought of all the power all that money can buy, probably makes Tillis and Berger a giddy as couple of high school girls in the back seat of a camaro.

  2. david esmay

    October 20, 2011 at 10:27 am

    WGHP announced this morning that Duke Power was going to hold a public forum to discuss their proposed 17% increase in cost for consumers. Duke’s spokesperson Davis Montgomery stated that they need to cover the 4.8 billion dollar cost to modernize their nuclear plants. Duke is blaming new government regulations for this move, not the fact that they haven’t upgraded their facilities and made them safer or more efficient. My question is what have they done with all their profits? Most of us who have operated a business know that a good portion of profit has to go back into the business, that is just the cost of operating one. If I need a new trowel machine, or tires for my bobcat, I don’t go to people I do work for and ask them for the money. These guys run a monopoly, want us to subsidize their upgrades, and then keep billions in profits, all the while whining about regulations that are in place, and have been for decades. The reason they haven’t improved their operations is because they would rather pay relatively small fines than comply.