PPL ... profits reflect a company that was wisely run.

Populist ploys did not work in California There was real competition in the Yuba City-Marysville region of California, in the form of a gas war, and a gallon of gasoline went for 19 cents.

[BOB SMITH]

Paul, there was no manipulation by our president.The gas prices have gone up,since the democrats of taken controll of congress.The democrats and environmentalists will not let us drill on our own soil.We have more oil then the middle east.The rest of your Column is informative,but blaming the president for everything is not credible of your position.BOB SMITH

[Dennis Deal]

BOB SMITH wrote:

Paul, there was no manipulation by our president.The gas prices have gone up,since the democrats of taken controll of congress.The democrats and environmentalists will not let us drill on our own soil.We have more oil then the middle east.The rest of your Column is informative,but blaming the president for everything is not credible of your position.BOB SMITH

Bob while I understand your need to live in our own lilworld.. However I want you to repeat this to yourself at least three times a day..

"WE can NOT drill our way to energy independece."

We sit on only 3%(Thats THREE percent) of oil the oil in the world. Though I do appreciate that it would be nice to be floating in oil. Sadly, Bob we do not. And honestly the debate should really not be about drilling, but about what other energy tech we could utlize.

As to blaming those nasty Dems for the country woes. Again Bob reality is Our Dear Leader President Bush Ignores and seemingly passes the Constitution at will.

And as another kick in the old teeth a Federal Judge told the oil companies that in light of the fact that they, the oil companies, already hold on to leases and contracts to drill else where that they, again oil companies were not going to drill in a national park.

And just to make sure that this is understood. Those same nasty Democrats are going to start to vote on a Bill to force those poor misunderstood oil companies to drill or lose said contract and leases.

But hey what do I know I am just a lil ole Libertarian..

[Orly]

I'm...stunned. A pro-PPL article? In the Morning Call?

Stunned! Elated! Finally!

[Anonymous]

Another record earnings year for PPL
10:51 AM EST, January 31, 2008

PPL Corp. announced record earnings this morning, posting numbers that dwarfed last year's record earnings.

The Allentown energy company earned $1.3 billion, or $3.40 per share, in 2007, compared to $865 million, or $2.24 per share, the year before.

[Anonymous]

PPL executive's compensation package:$9.7M
State senator calls it corporate greed at time of planned rate hike.
By Sam Kennedy | Of The Morning Call
March 21, 2008
The compensation package of PPL Corp.'s top boss totaled nearly $10 million last year, according to the Allentown energy company's regulatory filing this week. That's the largest sum ever reported for a sitting PPL chief executive officer.
The $9.7 million total reported for 2007 was 73 percent more than in 2006, when Miller replaced PPL's retiring longtime boss, William Hecht.

[Orly]

Ohlook...the same posts from the same anon idiot again and again. I almost forgot I was on the MCall board...

[Bash 2]

Paul, thanks for posing another side of the story. No one seems to want to acknowledge that rate caps may just be at least related to the fact that real retail competition never developed in PA.

[Shocked]

A real shocker - Bush/Cheney are to blame. Paul you are so transparent.

[Agree With Orly]

What a fantastic article! Finally, someone taking the time to educate the public. The less informed will continue to complain and use their lack of understanding to raise complaints (Boscola) but this is a start.

Thanks Paul!

[Doug from Allentown]

When PPL's rates go up by 40 percent, we will be paing about 10 or 11 cents per kwh. This is right about in the middle of the heap.
Right now, electricity contract prices for 2010 is going for about 11 cents per kwh on the trader market. I think this is right in the ballpark.
A lot of politicians think that rate payers should be charged prices very near generation costs. They actually mention that they should NOT be forced to pay market costs.
These market costs take in to account a few things. One is risk. A lot can happen to generation prices in two years. Fuel costs are not going down any time soon. New environmental legislation can (and probably will) be passed that will have a major impact on generation costs as well.
These market rates fluctuate with the price of fuel and with demand as they should. One of the often-mentioned side effects of $4 gas is that it is finally getting Americans to change their lifestyles. Forget CAFE standards. Forget environmental laws and Al Gore movies. Hit us where we pay attention... our wallets.
Cheap power (gas and electricity) generated from fossil fuels has been like heroin for this country. Although it did help our economy grow, the costs of energy were held artificially low for the last 25 years.
I am not sure what the answer is here, but I do know enough to say that governments rarely make the right decisions in these cases. All they want to do is get a rate freeze extended through the next elections.
It is about time an article even attempted to articulate PPL's point of view.

[Bar_keep]

Doug from Allentown wrote:

When PPL's rates go up by 40 percent, we will be paing about 10 or 11 cents per kwh. This is right about in the middle of the heap.

I am not sure what the answer is here, but I do know enough to say that governments rarely make the right decisions in these cases. All they want to do is get a rate freeze extended through the next elections.
It is about time an article even attempted to articulate PPL's point of view.

Good post, Doug. Says a lot. People are so use to living on the cheap with lots of disposable spending money. Its a shame to see people struggle to keep living the same kind of lifestyle when economically it will become impossible in the future. Life on credit cards will be next. People will be slapped back to reality. It would be nice to see people say...do I really need to buy this or that, or can I do without. But...if they don't buy it, who else will be affected by it? Sales people, trucking companies, all the way back to the manufacturer. No doubt we've got a real problem on our hands coming, one that has to be handled very slowly in a stepping motion as to not upset the apple cart. I don't mind paying 10 or 11 cents a kilowatt hour for energy if I have to. We've had it good at 5 or 6 for a long time. But...there is where I have a problem:$10 million dollars + perks a year.
As I asked with the oil companies...where is all the money going?...and no one seems to know, or it is so obvious we miss the answer. The obvious answer is inflated salaries for one, as it has been for years in many industries. Second is record stock pay-outs. Those that have PPL stock are making a nice little profit. But what is generating it? Inflated prices or high useage? if so, why are the car conpanies all but belly up? What about other loosing industries...the food sector is reporting a serious drop in income and profits. Your comment about relying on oil like herion is right on in my opinion...cheap oil drove a lot of this country for a long time; big expensive cars, campers to pull, lots of lighting, vacations all over, the list goes on and on...all related to cheap oil. Now...its time to either pay the piper, or learn to deal with real (or greedy inflated) costs. As for me...I cut back. Had to adjust. And I know in doing so...someone's going to pay for it. And I am only one person.
No doubt tough times are coming. And they are being driven by many factors at one time. This will be the worst we've ever seen I am afraid.
As far as why we don't drill more in this country, I read a good article as to why they have been waiting so long. The article said...the country that has the oil and gas left will be the only country with planes in the air and warships on the water. Could it be that the govt. has self defense for our country in mind? I realize it would be years before the oil would come out of the ground, but could we be setting up for some military move long term? Just a comment is all.

[Joe]

Great comments Doug and Bar_keep and Dennis. The one comment I would add is the salary issue. 10 Million includes a lot of stock options and other valuations. I often say to myself that enough is enough. But when you think about how much of our 401K plans, retirement funds, etc. are invested in these very same utilities and oil companies, do we really want to see those companies start to post losses? Would people be any happier if he was compensated $1 million instead? or would it need to be less than $100,000 before people wouldn't complain?