I first got the news via a text message on my cell phone: TVA is raising rates for electric power by 20%, effective October 1.
Blue Collar Muse has an excellent (and link-rich) post about the subject. And he’s right about where the blame belongs. But, there’s more to the story that gets under my skin in a big way, referring back to an article in the News-Sentinel last December 13:
In a separate report to the U.S. Office of Management and Budget, TVA detailed incentive payments greater than $25,000 to 54 top executives.
TVA President and CEO Tom Kilgore earned total compensation of $1.84 million for the fiscal year, up from $1.59 million last year. Kilgore is eligible to make $2.7 million next year under a compensation plan approved last month by TVA’s board.
Other top earners for 2007 were Chief Operating Officer Bill McCollum ($1.76 million), Vice President of Nuclear Generation Development and Construction Ashok Bhatnagar ($1.04 million) and Chief Nuclear Officer Bill Campbell ($1 million).
Since TVA is supposed to be a not-for-profit type entity, it surely seems to me that part of the criteria for earning bonuses ought to be whether they’ve done all they can to provide maximum customer service at the minimum price.
Folks, November is fast approaching. We all know that developing alternative energy sources is necessary, whether to protect the environment or to quit sending billions to people who want us dead. We’ve used hydroelectric for years, and it works well when it rains. We’re developing a taste for wind and solar, which works well where the wind blows or the sun shines.
Nuclear power doesn’t depend on the weather. It’s reliable, and we know how to do it right.