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
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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