I’m not saying this one vote doesn’t count. I’m saying that I’m not going to adopt the Frigtard position that says I may have given you a lifetime A rating in the past, but because of this one vote, you now get an F.

It is one vote among many. It will receive a higher weight than most, but it is still one vote in the evaluation of who I can support going forward, and who I can’t.

Are you in fact the biggest hypocrite around?

Was calling someone a name (pipsqueak) for calling someone else a name hypocritical?

And are you truly the most unaccomplished person on these blogs?

Now, again about SB31. Seems to me that this is effectively a tax increase. Normally people wouldn’t remember that, though.

After all voters forgave sonny perdue for proposing a series of tax increases when he first got elected because the Republican majority stopped him from raising taxes.

But this time might be a bit different, especially if Sonny keeps trying to raise taxes again.

Porter can’t win. But he can cause lots of trouble by just calling this thing nothing but a tax increase, and force the Republicans to explain how it’s Not-really-a-tax increase-but-a-rate-increase-and-it’s-Ok-because-it’s-an-investment-for-the-future-but-Obama’s-investments-in-the-future-are-really-really-bad.

Comments from State Representative DuBose Porter on SB 31 from the well of the Ga. House today

Atlanta – House Democratic Leader DuBose Porter (D-Dublin) made the following remarks today on the floor of the Georgia House of Representatives during the debate of Senate Bill 31.

“Georgia Power is a great company. Georgia Power is good for Georgia. They help us with conservation programs, they aid when disaster hits and they keep our state’s lights on. Georgia Power is good for Georgia………however this financing bill is not.

This type of bill has been tried before and it was labeled a retirement bill. AND a lot of us are going to be retired if we pass this bill and we should be.

In the early 80’s it was projected that our two new nuclear plants would cost $660 million. By the time they were operational the cost had ballooned to 9 billion dollars. This plants final budget will more than likely do the same.

The burden of this bill will end up on the backs of individual customers and small businesses as the use of the word “embedded” exempts part of the industrial and large retailer’s load.

This bill will ask our people, our senior citizens and our working families that have still have jobs to pre-pay the financing during the worst economic times in recent history.

Right now there are more people unemployed in Georgia than the amount of people that live in the city of Atlanta.

I just want you to ask yourself what I read yesterday on the Republican blog Peach Pundit, “How will you go back home, look your people in the eyes, and tell them that Georgia Power needs this advance profit more than your people need the money to pay their bills?

As a past Governor has said, the people of Georgia need a people’s lobbyist. Today we will find them and they will be identified by the red no votes that you will see on this board,” said House Democratic Leader DuBose Porter (D-Dublin).

You do not have to turn your back on them for one bad vote, but is this really just one? Aren’t we at least up to counting on our toes by this point? Every elected representative from every party should have a primary challenger greeting them on qualifying day each and every time they are up for re-election. Not necessarily to unseat them but to have them at least answer for their repeated one-bad-votes and add a little fear of the voters back in their lives.

More hypocrisy than Mark Foley in a teen bar. Again.

Bill writes: “You’re probably a little pipsqueak in real life.”

Now on the topic: SB 31 was a bum bill. The real reason the legislators voted for it is that they know that come 2010 most voters won’t really cast their votes based on this and won’t remember.

But lobbyists will remember.

I wanted to send you the following information on SB 31.

SB 31

SB 31 allows Georgia Power to raise customer rates incrementally over
seven years to pay for construction loan interest during construction of
large infrastructure projects.

SB 31 strengthens Georgia’s long-term financial and production capacity
to provide low cost, clean energy to its citizens, which reduces the
state’s reliance on existing coal- and natural gas-fired plants that are
more subject to expensive federal environmental mandates and a volatile
world market.

Two new nuclear reactors

Georgia Power’s parent company, Southern Company, is currently going
through the federal permitting process to add two new nuclear reactors
to Plant Vogtle near Waynesboro to meet Georgia’s growing energy needs.
39 EMCs and 49 MEAG cities will own 55% of the new Vogtle 3 and 4
nuclear units.

SB 31 does not authorize the construction of the new reactors;
construction and repayment of appropriate costs will occur regardless of
SB 31. The bill alters only the timing during which construction
financing costs are recouped.

Effect on ratepayers with SB 31

With SB 31, customers will pay a 1.3% rate increase each year from 2011
to 2017, a total compounded increase of 9.5%. In the first year, the
1.3% increase equates to a $1.30 increase for the average $100 monthly
residential bill. After construction, customers will pay the 9.5%
increase over the 60-year operating life of the plant.

Effect on ratepayers without SB 31

Without SB 31, customers will pay a 6% rate increase in 2016 followed by
another 6% increase in 2017, effectively raising energy rates by a
compounded 12.4% over a 13-month period. Customers will then pay the
12.4% increase over the 60-year operating life of the plant.

Eliminating interest on interest

With SB 31, the total amount that Georgia Power’s customers pay for
construction interest will be $300 million less because interest will
not be charged on interest for the construction costs.

Arguments for and against SB 31 relating to the time value of money are
subject to numerous variables, financial risk preferences, and vary
widely among individual citizens.

Southern Company stockholders and the Public Service Commission (PSC)

The Public Service Commission (PSC) currently authorizes Georgia Power
to charge customers for financing expenses during construction on a
year-to-year, short-term basis. Without SB 31, Georgia Power will lack
longer term certainty on recovering prudent financing costs, which could
negatively influence it’s “A” credit rating.

The PSC sets the rate of return for Southern Company stockholders, which
remains unchanged by SB 31. Also, the PSC sets the proportion of
financing for capital projects for Georgia Power at 50% debt and 50%
equity, which remains unchanged by SB 31.

EMCs and MEAGs already do this…and more

Georgia Electric Membership Corporations (EMCs) and Municipal Electric
Authority of Georgia (MEAG) cities are authorized and may increase
customer rates incrementally during construction to pay for construction
loan interest. SB 31 extends the capability to Georgia Power, bringing
the power generation companies into parity regarding construction
financing costs. Furthermore, EMCs and MEAG cities are authorized and
may increase customer rates incrementally during construction to pay for
“bricks and mortar” construction costs. SB 31 does not extend this
authority to Georgia Power.

Half of Georgia already pays this way…and more

EMCs and MEAG cities serve half of all electric power customers in
Georgia, 2.3 million. Georgia Power serves the other half, 2.3 million.

Sincerely,

Rep. Jimmy Pruett

Lots of things can happen “off the books”, and away from view from the ethics commmission. The ethics commission doesn’t audit books or expense reports. It only sees what it is given.

http://www.ajc.com/metro/content/metro/stories/2009/03/01/georgia_power_legislature.html?cxntlid=homepage_tab_newstab

Bill opponents such as Oliver and Rep. Brian Thomas (D-Lilburn) say it’s a mistake to link the utility’s success with lawmakers with campaign money or sports tickets. They say Georgia Power’s lobbying operation has left the company with a deep reservoir of goodwill. Oliver said Georgia Power’s lobbyists avoid the kind of back-slapping that often goes with the lobbying territory.

“It absolutely helps them,” Thomas said. “There was probably a majority of members who were kind of wishy-washy on this either way. That’s where relationships win.”

I hear what you are saying and I am not debating either side of the arguement of the bill,but it was a given from the beginning this was going to pass.Georgia Power has many relationships earned over many years and like many things in life relationships normally rule the day.

With that being said I do believe Georgia Power has a record of being a good Corporate citizen for the State of Georgia.Anyone who has sat on a Developement Authority Board has seen the benefits that they bring to the table in luring new jobs to Georgia,and the macro effect of this recruitment reaches far outside the recruited companies gates.

So now that this is past us lets stay on them to get the nukes built asap[.

The vast majority of us here, and I think all of the front page posters (at least those that have weighed in on this issue) are pro nuclear power. I wrote quite a few pieces on it and energy policy in general well before SB 31 was ever an issue.

Building more nuclear plants is good, necessary, and long overdue.

Having consumers and small businesses pay to get this going while large commercial users are not asked to contribute is a problem.

The fact that this “contribution” consists of $1 BN of front loaded profit is a big problem.

Yet again the judgment of those who see no difference in Republican leadership of this state and the previous Democratic administrations is validated.

A legislature full of rocks would do less harm.