Public Hearing on Edison’s Three Billion Dollar Rate Hike

Public Hearing on Edison ‘s Three Billion Dollar Rate Hike: Company Ignores Ongoing Recession, Californians to Pay More for Basic Services

Berkeley , CA – The California Public Utilities Commission is a hold a series of public hearings where southern California residents can voice their concerns regarding Edison ‘s $2.898 billion dollar rate hike. Many community groups, including Mabuhay Alliance, FALCON, the Inland Empire Latino Coalition, and the Greenlining Institute oppose the rate hike, for the following reasons:

Californians Can Not Afford Such an Increase

Given the recession and housing crisis in California and nation, along with rising inflation and unemployment, customers simply cannot afford pay more for electricity.

Southern California Edison Uses Customer Dollars to Overpay Their Executives

In 2007, Edison International paid CEO John Bryson 11.7 million dollars – this number does not include his $65 million dollar retirement package. Further, At least 30 Edison executives received pay of $1,000,000 or more; at least 300 received pay of $200,000 or more; and at least 5632 received pay of $100,000 or more. Few of these employees have credentials or duties that justify such high salaries.

Diversity Among Edison’s Overpaid Employees Does Not Reflect California’s Diversity

In 2007, of the top 1000 Edison employees by salary, only 5% are Asian, 23% are Latino, and 12 % are women. In the top 100, only 4% are Asian, only 5% are Latino, and only 24% are female.  In the top 20, only 2 are African American, 1 is Latino, 2 are Asian, and 6 are women.

Edison Is Not Investing Their Corporate Dollars in California’s Underserved Communities

Among California ‘s three largest energy utilities, Edison appears to be last in percentage of pre-tax income devoted to philanthropy, with less than 1%. Currently, the company refuses to release detailed information about their philanthropy.

Southern California Edison Cheated Customers

In 2007, the Commission penalized Edison over $200 million dollars for dishonest business practices.

At any of these locations, Community members can speak directly to the Commission concerning Edison ‘s rate hike:

As Faith Bautista, Executive Director of the Mabuhay Alliance says “We protest your extremely high salary of $11.7 million and your retirement package of $65 million. This is particularly inappropriate at a time of recession, nationwide foreclosures, and cutbacks to government services for the needy.”