O'Malley weighs in on Constellation bonuses
Gov. Martin O'Malley just issued a statement decrying the $32 million in bonus payments due to Constellation executives that Hanah Cho reported today:
The Public Service Commission is currently investigating the proposed 50% acquisition of Constellation’s nuclear fleet by EDF to determine whether it would put EDF in a position to exert substantial influence over Constellation or BGE and, if so, whether the transaction is in the public interest. That proceeding is underway and the PSC’s request for details on executive compensation is what prompted this disclosure on executive bonuses by Constellation. The PSC will continue to review these troubling bonuses to determine whether they are in the public’s best interest. I find it hard to believe that they are.This is another reason why we must move forward with legislation to create rational reregulation of our energy markets. Our legislation proposes to use a public interest determination for energy generation going forward, rather than a private for-profit determination. These bonuses are yet another example that deregulation has not worked for residential ratepayers.
It is hard to accept the necessity of paying $32 million in retention bonuses during record unemployment. And it is hard to accept the injustice of paying these bonuses at a time when our State and Federal governments are spending record amounts in energy assistance to thousands of vulnerable families throughout our state.
Comments
O'Malley promised to save us from CEG/BGE, reneged on that almost immediately after taking office, and then has done nothing but whine and complain about them doing exactly what he said he was going to save us from them doing when he was running for governor.
He should either do something for real, or just shut up already.
Posted by: brstevens | March 20, 2009 7:16 AM
O'Mally ran his campaign on how he was going to stop the rate hikes. All he did was finance them. Why should I pay for the deferral of electricity. This is just another sign of how corrupt his organization is. He left the Mayors office with Sheila and moved his politics to the Governors office. If you voted for O'Mally you should feel really bad. Also he has tried to use BGE for other purposes than to win his election. He has not done anything good for this state. He is just maintaining until he can try to run for a Federal office. O'Malley your whole life has been wanting to move to the next level and doing what ever you can to get there. You should probably be in Jail and I am sure if you keep going down the same path our State attorneys will find something to prosecute you on.
Posted by: Dan | March 20, 2009 10:47 AM
Wait a second.
This is the man who after he became elected passed big raises for his cronies in his administration!
Let alone the big campaign promise
to do something about those rates!
Total complete BS!
But yet the lemmings of Maryland will relect this individual!
Posted by: jay | March 20, 2009 10:54 AM
I believe the state of Maryland's spending addiction in the middle of a recession with unemployment on the rise should be the situation called into question.
O'Malley is just pandering to the public - with no chance of stopping these bonuses. Nor should they be stopped.
O'Malley needs to do what is best for all citizens, and resign!
Posted by: Frank | March 20, 2009 11:09 AM
If the CEG/BGE utility is so horrible will O'Malley, Mike Miller and the Democrat party refuse to accept any campaign contributions from CEG/BGE? I bet not.
Posted by: Mike | March 20, 2009 12:09 PM
Hey our state repensitives and officals stop with the speaches and promises we already know you don't live up to your word. Lets ask the president what he would do. I think Obama could teach them a thing or two. Stand up take responsibilty and do your job the people elected you to do in the first place. Stop hiding behind closed doors. How may elected officials have problems paying their eletric bills? Does Shelia Dixon has any gift cards left?
Posted by: PATRICIA JUSTICE | March 20, 2009 12:18 PM
Martin O'Malley is the Governor. What is he doing beside promising another pointless PSC investigation? He hired some hotshot to "stop the rate hikes" before and what happened? We got all of the rate hikes and then some!
Man, Martin O'Malley will say ANYTHING to appease voters. Yet he'll do nothing to actually help us out. More taxes, higher BGE bills, and what's he been doing? Oh, off partying on St. Patrick's Day with President Obama down in DC according to Politico.
Our absentee Governor makes the exuberant promises, but delivers on nothing except more pain to my pocketbook. PLEASE, PLEASE, throw this guy out. I can't think of anyone worse in the job!
Posted by: John | March 20, 2009 1:56 PM
Just remember that one of the reasons our previous governor was thrown out was because of high BGE prices. O'Malley can do the same, and at the primary level, not the general election. Seems like there is no shortage of candidates for a primary.
Posted by: Cate | March 20, 2009 3:03 PM