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chewingthefat
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Small businessman days numbered??
Wed, 06/4/08 12:22 PM
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As a small restaurant owner, my margins are thin to begin with. Yesterday I received notice from Allegheny Energy, a company which did 3.3 billion in biz last year, netting over 425 million or over 12% net, that rates for my restaurant were increased 28% as of June 1. I don't get it, I realize their costs are up but not 28%. My electric bill last December was over $2900.00, in Dec of 06 it was $1500.00. Propane is so expensive as to be laughable. I use a lot of it. To try to pass on the increased costs to the customer is impossible. As far as I know the USA doesn't import propane, so why the 500% increase? Coal is limitless and relatively cheap, there hasn't been a Nuclear[sp?]Power plant built in over 30 years. Energy costs will bankrupt all of us unless something is done yesterday.
Thanks Government for deregulation, I don't remember which Administration was responsible, it was however a BIG mistake. The law of unintended consequences, perhaps.
I genuinely don't know what to do, simply because it's out of my control!
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Fieldthistle
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Total Posts:
1948
- Joined: 7/30/2005
- Location: Hinton, VA
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RE: Small businessman days numbered??
Wed, 06/4/08 1:05 PM
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Hello All,
Chewingthefat, your words re-affirm my fears. Things are out of control.
But my response and even your topic borders on Political issues...
so I shall remain quiet.
Take Care,
Fieldthistle
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brainfreeze
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Total Posts:
22
- Joined: 5/4/2008
- Location: Liberty Township, OH
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RE: Small businessman days numbered??
Wed, 06/4/08 4:39 PM
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My mother who works in the financial field received some report of the market taking even more of a dive!!!
It is definitely scary!!! I worry how much worse it will get before it gets better!
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saps
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Total Posts:
1512
- Joined: 8/18/2003
- Location: wheaton, IL
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RE: Small businessman days numbered??
Wed, 06/4/08 5:01 PM
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In Illinois we had our rates raised as well, 30-50% on commercial properties. Ours was due to the fact that there was an agreement between the state and the primary power supplier (ComED) to keep the rates somewhat frozen after deregulation. Once that agreement expired, ComEd began jacking up the rates.
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davebugg
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Total Posts:
188
- Joined: 2/27/2007
- Location: East Wenatchee, WA
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RE: Small businessman days numbered??
Wed, 06/4/08 10:51 PM
( permalink)
quote:Originally posted by chewingthefat
As a small restaurant owner, my margins are thin to begin with. Yesterday I received notice from Allegheny Energy, a company which did 3.3 billion in biz last year, netting over 425 million or over 12% net, that rates for my restaurant were increased 28% as of June 1. Ouch 
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