By Stephen Frank, California Political News and Views
The good news is that even socialists find out they can’t pay for total control of families and businesses. This is an ‘I TOLD YOU SO MOMENT.” While this is about Ventura County, I am sending this to the Mayor of San Diego, who has been promoting this socialist, money losing proposal for his community. Maybe they can save millions by tossing it in the trash can.
“Cities across Ventura County are moving some energy accounts back to Southern California Edison, the investor-owned utility they left in pursuit of greener power.
The change is to avoid paying higher energy rates, which for many agencies amount to hundreds of thousands of dollars more in annual bills were they to remain with Clean Power Alliance. The joint powers authority formed in 2017 with the goal of procuring renewable energy at a lower cost, giving traditional power companies competition and stimulating the local and regional economy through capital investments.
The counties of Los Angeles and Ventura and 30 cities within them comprise the Clean Power Alliance, started with a $10 million loan from Los Angeles County (the repayment date was recently pushed to Sept. 30, 2020, the second such extension).
Note that the Ventura County effort can not pay back the loan, is in its second extension. The question now is when does it go into default? If your town has done this or thinking of doing it, give this article to your elected officials—this is a guaranteed money loser!
Stephen Frank: Is the the publisher and editor of the California Political News and Views. Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/