I don’t know how many of you look through all the inserts that are added to your monthly bills. Normally I give them a quick scan of the titles to see what someone wants from or to do to me. With last month’s Puget Sound Energy (PSE) bill I knew there would be an insert about the upcoming rate increases and how much it was going to affect me. I’m not against giving the company a little extra to buffer the increased cost of fuel, labor and storm damage to their system. I was thinking a 3 or 4 percent increase would be in line with my standard of living (fixed) and be fair to have power 24/7. I’ve been to other countries where even 2/7 was asking a lot.
What I didn’t expect to see, and I am sure that those that had to stuff the inserts by law didn’t really want me to see, was the insert titled “Notice of Proposed Merger.” What? When did the topic of a proposed merger of PSE to anybody ever come up, or be promoted in the nightly news?
The Washington Utilities and Transportation Commission was going to hold some meetings in the PSE area of operations. If you get a PSE bill, you’re in it; and that area includes most of the big money in the state. The information for the merger is listed on the front of the insert. The real information (that’s going to cost you big time) is listed on the back. There it says that “Puget Holdings,” made up of several big Australian and Canadian companies, will be the sole owners. There will be no more stock, or listings on any major exchanges. Puget Holdings is going totally private; as in no information that they don’t want you to know and no way for you to ever get it. Oh, and after five years, you can’t go to Bellevue any more and get things settled, because they won’t be there. Is your passport up to date?
When reading the back side of the insert, the name Macquarie led off several of the companies that were going to be part of Puget Holdings. It got more interesting when I did a Google of Macquarie. They are very busy people, buying other electric utilities, container terminals, docks, and lots of other interesting businesses. I found that they are big in buying up major interests in American toll roads, which is quite interesting. The more links I clicked, the more names and associations popped up that were connected to Macquarie, and what its entities and fingers were attached to. I’ve been told the devil goes by many names, but not as many as a transnational corporation that wants to hide its horns and tail.
It was even more interesting to see where some of the money was coming from. The San Diego public workers pension funds had invested several billions with them from one Web link I read. But I think most of it is coming back from the vast amounts of money shipped overseas everyday from the U.S. for the gasoline (a lot of gasoline comes from Canada and most of our natural gas) and the Chinese doodads we buy.
It doesn’t bother me if a foreign corporation wants to buy up a private business, building or timber lands. But, I have a real problem with them getting their hands on any of America’s infrastructure. Things like power, water, gas, sewer systems, ports, airports, roads and bridges. Those things have to remain U.S.-owned and operated, and controlled by local and state commissions set up to guarantee a consistent, reliable and reasonable price for it’s public goods and services, and for the good of all citizens.
The insert also states that the Federal Energy Regulatory Commission) will be there to watch over us. Do you trust the feds in the current administration to be looking out for your financial welfare? Go back a few years and read what FERC was saying when Enron and its minions were raping California during the big “false” energy crisis: “Everything was fine, we can’t find any foul play here.”
Get involved or lose your wallet later. Look at the information that came with the April PSE bill. Also at www.utc.wa.gov/comment, or call 1-800-562-6150 to leave a message, or e-mail the assistant attorney general at, utility@atg.wa.gov. This is still a country of one man, one vote.
Warren Messer lives in Maple Valley.
