KGS Looks To Slap Poorest Consumers In The Face

I read in yesterday mornings Topeka Capital Journal, that the Kansas Gas Service (NYSE: OKE) wants higher rates. According to the article, KGS has incurred significant increases in costs associated with employee medical and pension benefits as well as property taxes. Then after saying all that, in the same article it reports that their profits are up in the "first-quarter 2006 net income increased to $129.5 million, or $1.17 per share, compared with $107.7 million, or 97 cents per share, in the same period last year."
Let me get this right a multi-million dollar company is complaining that it's costs went up at the same time that their profits increased? So they want punish the poorest individuals out there, so that they can get richer?
There are many people out there, that very few seem interested in speaking up for. It is high time that someone did! These people make $15,000, $10,000, or even less sometimes in a given year. It is these people who struggle to come up with even a dollar at the grocery store, because all their money went to these greedy utilities. To raise the rates on them would be smack in the face of each and everyone of these individuals. If the KCC approves this increase, they would be just as guilty of smacking the consumer in the face, as these greedy utilities.
Where do you stand? Are you in support of the greedy corporations, that could care less for how these rate increases effect the consumer? Or do support the poorest of the consumers, who would be impacted the hardest?


Published Topeka Metro News 5/19/06


Published Topeka Capital Journal 5/21/06