Navigation Links
AARP Calls on State Regulators to Reject Proposed Settlement of TXU Buyout
Date:10/5/2007

'Who's looking out for everyday Texans?'

AUSTIN, Texas, Oct. 5 /PRNewswire-USNewswire/ -- AARP today said a proposed settlement of the record-setting $45 billion buyout of TXU amounts to one more backroom deal that ignores the interests of residential customers and in essence exchanges $24.5 billion in new debt for a mere one-time $15 electric bill credit.

"Who's looking out for everyday Texans?" said Bob Jackson, AARP Texas state director. "They'll be the ones having to swallow the $45 billion. From the start, every level of government has failed to represent the public's best interests here. This settlement is more about getting along and cutting a deal than about standing up for residential ratepayers."

Late yesterday an agreement in principle was reached to settle the Public Utility Commission (PUC) review of the TXU buyout. The proposed settlement, which is not supported by all parties to the proceeding, would have to be approved by PUC Commissioners, who by the narrowest possible reading of the law will not even consider the real issue: Who really pays the $45 billion to make the speculators richer? AARP, representing 2.3 million members in Texas, is strongly opposed to the terms of the buyout and does not endorse the agreement.

According to its filings at the PUC, the buyers of TXU propose to take on an additional $24.5 billion in new debt to finance the acquisition. AARP maintains that if all this debt is recovered through electricity rates, it could amount to as much as a $26 monthly burden on millions of residential customers for the next 10 years.

"If the settlement is approved, Texas government will have created a stream of hard earned cash out of the pockets of Texas citizens straight into the pockets of out-of-state speculators. And, Texans receive nothing of value in return," Jackson said.

AARP

AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; AARP Segunda Juventud, our bimonthly magazine in Spanish and English; NRTA Live & Learn, our quarterly newsletter for 50 + educators; and our website, http://www.aarp.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.


'/>"/>
SOURCE AARP Texas
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Calls to combat deafness after chemotherapy
2. WHO Calls For Greater Emphasis On Combating AIDS
3. PCT Calls Upon Doctor To Delay Surgeries
4. UN Calls For More Funds For Earthquake Affected
5. MP Calls For Ban On Aspartame
6. Scientist Calls Upon Media To Retract His Work
7. CMHA Calls For Better Trained Police For Dealing With The Mentally Ill
8. US Government Calls For Better Drug Supplies
9. Phone Calls Lend Vital Support to Moms of Mentally Ill Children
10. Report Calls For Better Implementation Of Last Wishes of Terminally Ill
11. Mixed Orientation Marriages Calls for Deeper Understanding
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/25/2017)... ... September 25, 2017 , ... ... and efficiency. The principle of First-Defect-Stop for laboratory weighing is designed ... have the chance to have negative consequences on downstream processes. , If a ...
(Date:9/25/2017)... (PRWEB) , ... September 25, 2017 , ... Physician Partners ... Fla. location at 5304 Main Street as an interventional pain management specialist. , ... and extremities. He joins PPOA from private practice In Brooksville, Fla. His orthopedic background ...
(Date:9/25/2017)... ... ... “Renew Refresh Restore Reward”: is a story of struggle and how trouble often happens ... Freeman, cofounded the Free Spirit Bible Church and currently serves as the church’s Director ... us to come over before the baby had to go back to her grandparents. ...
(Date:9/25/2017)... ... September 25, 2017 , ... The trend-spotters, tastemakers, and healthy lifestyle product experts ... based super herb drinks, with the new NEXTY Gold Award at the Natural Products ... the NEXTY Gold, which is reserved for just those companies that hit high marks ...
(Date:9/24/2017)... ... September 25, 2017 , ... Bhowanie Benimadhu’s new book “ Our ... questions of life and seeks answers in both Eastern and Western religious traditions and ... God is in the mind of humankind for the past thousands of years and ...
Breaking Medicine News(10 mins):
(Date:9/6/2017)... 6, 2017  Robert G. Szewc, M.D., is recognized ... in recognition of his contributions to the Medical field.  ... Nephrologist at the practice of Kidney and Hypertension Specialists, ... and hypertension solutions. He has worked in this position ... experience, as well as expertise in kidneys, hypertension, chronic ...
(Date:9/6/2017)...   PDI , a leader in infection prevention ... educational session focused on the role of chlorhexidine gluconate ... the 2017 Annual Scientific Meeting of the Association for ... the Phoenix Convention Center in ... will also feature PDI,s Prevantics® Device Swab ...
(Date:9/6/2017)... , Sept. 6, 2017 Eli Lilly and ... will present new data for galcanezumab and lasmiditan, two ... the International Headache Society (IHC) taking place Sept. 7-10 ... Lilly will highlight new, long-term data from an open-label ... of galcanezumab (120 mg and 240 mg) for the ...
Breaking Medicine Technology: