Bailout for Perry Nuclear Plant…increasing your HAT%

Thanks to our Kirtland lobbyist for this article.

https://www.cleveland.com/politics/2019/04/ohio-lawmakers-prepare-bill-that-would-raise-electric-bills-to-rescue-nuclear-plants.html

Here is an excerpt from the article:

“A draft version of the bill, acquired by Energy News Network’sJohn Funk, would add monthly surcharges of $2.50 for every residential electricity customer, $20 for commercial customers, and $250 to industrial customers.”
*********************1776

Perry Nuclear Plant

If the Perry Nuclear plant should ultimately close down, it would have a significant economic impact to Perry and all of Lake County.  Here is a schedule that shows the loss of over $5.6 million in property tax revenue due to the recent decrease in valuation of the Perry Plant.  These figures were provided by the Lake County Auditor’s office.
Loss of Property Tax due to Perry Devaluations

Here is an article published by the Ohio Clean Energy Jobs Alliance detailing the economic, environmental, reliability, and security benefits of keeping Ohio’s Nuclear Power Plants.
Benefits of Ohio’s Nuclear Plants

The Lake County Commissioners presented a resolution in support of clean energy nuclear power in Ohio.    Clean Energy Resolution 1-3-19

We have been unable to get the total impact on Lake County property taxes if the Perry Plant should close down.  We will keep trying.

So we all get to pay an extra $30 per year to keep the plant open.  Unfortunately for seniors and those on fixed incomes, this is no difference between an increase in property taxes or an increase in utilities.  An individual’s housing affordability threshold is impacted by an increase in their utilities cost.

Remember HAT% = Add your Mortgage + Utilities + Property Taxes, if they equal 30% or more of your annual income then your home is deemed un-affordable.  For renters, add your monthly rent and your utility costs.

It makes us wonder if the taxpayers should keep bailing out companies?  Are federal and state regulations causing significant, unsustainable costs, or are the plants just inefficient.  Are they top heavy with management personnel, or are they just an industry whose time has passed and that needs to be replaced.  Whatever the reason, the taxpayers always end up with the “short end of the stick”.



Categories: Lake County, Uncategorized

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5 replies

  1. as long as the citizens of Lake county keep shelling out and keep voting like their parents, Lake county will keep taxing and shifting costs for them to pay. Remember it’s for the children, or your own good, or because it’s just too easy! Such good sheep!

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  2. You make some very good points. One additional thing. While the residential customers pay “only” $2.50 per month directly, they will also be indirectly paying for the $20 per month for commercial customers and $250 per month for the industrial customers. The commercial and industrial customers don’t just eat those costs, they pass them along to the consumer (i.e. the residential customers).

    Those are the hidden taxes buried in the cost of everything we purchase.

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  3. Hello Brian I found this post very interesting. I recall a few decade’s ago, prior to the Illuminating Company/First Energy trying to get government approval to construct the Perry plant, they needed positive Public opinion. To assist accomplishing that, an official statement was made by the company (s) went something like this: “after a certain amount of debt is reduced, about 20 years hence, all power customers would receive a discounted electric rate.” Oh really? The time came and went years ago with no reduction of rates. Very deceiptful AT BEST. A meaningless promise/commitment. Now someone suggests customers help bail out the plant financially. I don’t think so. The companies are playing the same game politicians play, that many people have short memories. Another wrinkle. At one point in time, another official statement was that most of If not all of the power generated at Perry was being sold out of state. While Lake County, mainly Perry and Perry township received large real estate tax benefits, power customers got squat. A history of power generated starting day one, and sold out of state up until today, might be very revealing. Bob

    Sent from my iPad

    >

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