In Utilities, a Culture of Graft Costs Consumers Billions
The cozy relationship between utilities regulators and the firms they are meant to regulate greatly benefits a few bureaucrats turned executives. It’s been a disaster for consumers, who see nothing from it but bigger bills.
Deregulation has created a “revolving door” from employment in utilities regulation to private-sector firms. A widespread culture of fraud and corruption that costs consumers billions is the result. (Jens Büttner / Picture Alliance via Getty Images)
This week, utility regulators met at the annual “Let There Be Light” conference funded by major electric companies and data center energy hogs such as Amazon, Google, and Microsoft.
Activities included a secret workshop explicitly spelling out how regulators can get rich after leaving office. The private event, open only to utilities commission chairs, taught these public officials “How to Obtain GREAT Post Commission Employment,” according to an online agenda.
Another presentation led by Costco and Amazon laid out “what utilities and Commissions can do to help [large customers] meet their energy and business needs.”
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