Always Seeking Corporate Welfare Handouts
"Broke" Utilities Find Plenty of Money for Lobbyists
| Bailout Watch, a publication of the Foundation for Taxpayer and Consumer Rights, uncovered this fascinating news. For more information, visit the FTCR web site at www.ratepayerrevolt.org |
Definitions Department
For most of us,"broke" means "out of money." But not for the utilities.
Edison spent $340,038.53 lobbying the California Governor, lawmakers and other officials in the first three months of 2001. It costs a lot of money to have lobbyists walk around the state Capitol claiming they are so broke they can't pay their bills.
And PG&E, not to be outdone, spent a whopping $644,201.22 in the three months before it actually filed for bankruptcy protection.
Overall, the utilities' have spent $1.2 million in lobbying geared towards a $12 billion legislated bailout to be paid by ratepayers. Not a bad rate of return.
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