Xcel Energy - What Comes Around Goes AroundXcel Energy has been playing the crony capitalism card for years. They've played both sides of the aisle like a fiddle. They've energized the eco-left to believe that government subsidizing (i.e. crony capitalism) of wind and solar is good for the environment in spite of the lack of evidence. They've also given donations to Republican candidates and were able to 'convince' several Republican legislators to vote to distort the free market (so much for principles...).
Karma - the sum of a person's actions in this and previous states of existence, viewed as deciding their fate in future existences or destiny or fate, following as effect from cause
The City of Boulder is causing some Karma for Xcel Energy. They are now threatening to use eminent domain to seize the property of Xcel Energy to create their own municipal utility.
While I don't condone the use of eminent domain to seize the property of another person or entity such as Xcel, I do find it quite ironic that Karma is setting in. Xcel's agenda for the past 15 years has been to increase their profits in the state of Colorado by increasing the cost of the energy they provide. They are a 'cost plus' provider. That is the profits they make increase as the input costs for energy increase. So, as they have been 'forced' to use higher cost inputs such as wind and solar, they have made more profit.
Xcel's strategy has worked like a charm up until recently. This is what we have in Colorado - mostly to the efforts of Xcel:
- 2003 Colorado constitutional amendment - this forced all Investor Owned Utilities to use a minimum of 10% of their inputs from wind and solar
- 2007 - Legislation to increase the Investor Owned Utilities to 20% and enact a 10% mandate on Rural Electric Associations
- 2010 - Legislation to increase the Investor Owned Utilities to 30%
- 2013 - Legislation to increase Rural Electric Associations to 20%
Xcel's 'friends' over the past few years are turning on them and that my friends is Karma. First, it was Solar City and now it is the eco-left City of Boulder. Couldn't happen to a better group of Crony Capitalists who've abused the legislative process and stolen hundreds of thousands of dollars from ratepayers in Colorado.