The picture of Warren Buffett grinning with glee over the more than doubling of his investment in Constellation made me physically ill. It is the BGE consumers, already drowning under deregulation, who will ultimately pay Mr. Buffett his $1.05 plus another $1 billion at 14% interest. If Constellation had remained a regulated company in the business of providing gas and electricity to its customers, rather than being used as a private gambling casino for Mayo Shattuck and his buddies, this would never have happened. How dare the politicians of this state, from Martin “I will stop the rate hikes” O’Malley to Mike Miller, Michael Busch and the majority of the General Assembly, do nothing to reregulate this company while its customers suffer under the highest utility rates in the country? It is far past time for this rapacious corporation to be reregulated. It is far past time for the politicians in this state to understand what economic justice means and to legislate it for all the citizens of this state.

Are we really paying the highest rates in the country? Can you find a link for that? I'd like to see it.

What a disaster this whole deregulation process has been.

Thanks

Of course BGE rates are not the highest in the country - they're not even the highest in the state. BGE represents only 20% of CE's revenue.

The fatal flaw in the whole electric restructuring deal? Price caps! No price caps in place when the law takes effect in 2000 and the regulated rates move to market rates with little change. Providers begin to move into the market, making deals on electricity. Competition begins to take hold, working to keep rates stable. Instead, Gov. Parris wants an immediate benefit and requires a 7.5% reduction in BGE rates, taking them to 1993 levels where they sat until 2006. (Maria, did you send thank you letters to Mr. Shattuck during the period when you were paying less for electricty than it cost to produce it?) The turmoil that began in 2006 has not ceased and no marketer is going to enter Maryland as long as the policymakers offer up policy du jour. No stability in policy, no point in taking the risk. The political class gets to continue to yelp that competition hasn't worked. HOW COULD IT? So Maria, your politicians bear the responsibility for this entire mess. It could have worked, but it was doomed from the start.

Lastly, BGE consumers will foot none of this. That is a LIE from someone who has an agenda.