Tuesday, May 5, 2009
Legislature / Woods House Slaps Down Natural Gas Industry
Posted by Jeff Woods on Tue, May 5, 2009 at 11:15 AM
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In a bizarre change for the legislature, which usually plays the role of industry lapdog, the House Commerce Committee has just killed a bill to make it easier for natural gas companies to raise rates. After much agonizing, lawmakers consigned the bill to a summer study committee. Shocking lobbyists during today's hearing, several legislators actually had the audacity to speak up for consumers.
"I'm convinced at this point right now I feel you're going to sock it to the consumers," declared Rep. Eddie Yokley, D-Greeneville, whose motion killed the bill.The bill was a real piece of work. It would have essentially done away with full-blown regulatory hearings in which natural gas companies are forced to justify rate increases. Instead, the Tennessee Regulatory Authority would have conducted streamlined annual rate reviews, and we all know what that would have meant. Rate hikes of up to 5 percent a year would have been allowed under the bill. To add insult to injury, consumers actually would have been charged a $2 "regulatory tax surcharge" each year to raise money for the regulatory authority to conduct its sham hearings.
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