Did you see Mayor Oscar Leeser’s column in the El Paso Times this weekend?
It has not even been a year and El Paso Electric is at it again. Executives have come forward to City Council once again to request that we grant them the ability to increase their rates on the local rate payer.
. . .
I do not believe that large salaries to executive officials’ pay are grounds for an increase. In 2016, the total compensation of the CEO was over $3 million.
I also do not believe that compensation of over $2.5 million to their 11 board members, as well as expenses associated with travel for their directors, is reason to raise rates. The high level salaries and compensations of their directors are all part of their cost of doing business and used in their rate of return calculations. Keep that in mind.
Three million bucks for the CEO? She must have a hell of a fastball. What’s her time in the forty?
This year El Paso Electric has almost record stock prices and profits, yet residential customers stand to see a 9.1 percent increase on their bill, and once again, solar users are being targeted separately with threats of higher rates as well.
El Paso’s private sector is in a hurry to make money, making sure they squeeze the last bit of juice out of the lemon before it runs out.
But everyone, including our “philanthropists,” are looking to cash in, quick, before El Pasoans feel the squeeze and wake up from their stupor.
I wonder, with all the “development” taking place, and a population growth rate that’s flatlined, when rents will fall? The developers can’t just keep building forever, unless there’s some way to make a buck out of tax incentives.
It would be nice to see someone take a longer term view, and not just worry about cheating the citizens today.
I’m going to miss Mayor Leeser.