IT IS TIME TO RECALL PLACER COUNTY TREASURER-TAX COLLECTOR JENINE WINDESHAUSEN
This is what happens when someone in a position of power is on a rampage once they make a policy issue personal. Undaunted, Jenine Windeshausen and the Staff of Pioneer Energy have found a new way to FORCE a massive rate increase.
It’s really simple – they want to change policy to force the utility to pay off all it’s debt in an unrealistically short period thus making a massive rate increase the ONLY option.
PLEASE ALSO NOTE THAT THE MEETING IS BEING HELD IN A NEW LOCATION PIONEER ENERGY HAS NEVER MET IN
Larry Oddo Finance and Administration Building Assessor’s Conference Room, 2nd Floor 2980 Richardson Drive, Auburn, CA 95603 1PM Monday 9-23-2019
This is extremely deceitful and was only posted for public review only 72 hours in advance of the meeting to adopt this disaster.
PIONEER ENERGY RATE INCREASE UPDATE
Effort Continues To Dramatically Increase Electricity Rates
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In August, the Pioneer Community Energy Board of Directors postponed implementation of a 17 percent electricity rate increase (and 24 percent for residential customers) until the board had a chance to review debt and reserve policies.
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Late Friday, the staff released a recommendation for dramatic increases in reserves of Pioneer and cash on hand and a debt policy that might force the agency to immediately repay $14 million in start-up costs.
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The Pioneer Board will meet in a special meeting on Monday, Sept. 23, at 1 p.m. at the Larry Oddo Finance and Administration Building Assessor’s Conference Room, 2nd Floor, 2980 Richardson Drive in Auburn. (NOTE: This is a different location than all other Pioneer meetings).
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At a special meeting Monday, Pioneer Board members are being asked by staff to adopt a new policy for reserves that would require the agency to set aside $30 million – and to accumulate that $30 million in just 3 years at a rate of nearly $10 million per year. This kind of reserve – up from a board policy of just $6.5 million in June and just $9.7 million in July – will drive a large rate
increase, perhaps even more than 17 percent. Why is the reserve requirement being tripled just two months later?
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Additionally, the board is being asked to set a policy of having $24 million in cash on hand at all times – even beyond the reserves, also in three years. In June, the board policy was for $2 million in cash on hand. Again, this policy will drive a HUGE rate increase.
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Finally, the Board if being asked to adopt a debt management policy that could require the agency to pay off all $14 million in debt in one year – far beyond what the staff recommended in June at just $5 million.
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If these policies are adopted on Monday, it will be very difficult to stop the rate increases a week later that would be necessary to carry them out.
Has the PUC approved these rate increases? I assume California has a utility commission. I am from another state and moved here 4 years ago.
Blogger’s Note: HI Ron – their board gets to do it, not the PUC. Neat quirk in California Law.
What was the outcome of the 1PM meeting?