Consumers Energy customers not only get stuck with all of the costs associated with 2025 Campbell closure/demolition, but also have to pay Consumers what it would have received in profit if it had stayed open to 2040 like planned only 5 years ago - Could it be that Consumers Energy executives with handsome company stock options would have a different view of this if the tables were turned?

Consumers Energy customers not only get stuck with all of the costs associated with 2025 Campbell closure/demolition, but also have to pay Consumers what it would have received in profit if it had stayed open to 2040 like planned only 5 years ago — Could it be that Consumers Energy executives with handsome company stock options would have a different view of this if the tables were turned?

Save The Campbell » Uncategorized » Consumers Energy customers not only get stuck with all of the costs associated with 2025 Campbell closure/demolition, but also have to pay Consumers what it would have received in profit if it had stayed open to 2040 like planned only 5 years ago — Could it be that Consumers Energy executives with handsome company stock options would have a different view of this if the tables were turned?

This footnote in its financial report explains the sweetheart deal that Consumers Energy executives with stock options and other investors got:

Consumers Energy executives with giant stock options and other big investors are willing to do the bidding of Governor Whitmer and her Michigan Public Service Commission (MPSC) appointees who currently regulate Consumers Energy under these financial circumstances, but what if the tables were turned? What if they were stuck with all of the costs, and customers and Ottawa County citizens were financially rewarded for the change?

These executives spent over $1 billion in the last 10 years on anti-polluting equipment in the Campbell on the premise it would remain open to 2040, then they reneged on what they promised when offered financial rewards for rapid 2025 Campbell closure and demolition. The Consumers Energy customers and citizens of Ottawa County are left holding the bag to pay all these costs and the financial rewards to boot.

The truly sad part are the political leaders in Ottawa County (both Republican and Democrat) who are unwilling to protect the interests of County citizens, using the legal tools available to us, to become the effective regulator over Consumers Energy in the County and stop this bad deal. Why are they so unwilling?