200-PLUS PROTESTERS AT PEPCO BOARD MEMBER PAULINE SCHNEIDER’S D.C. LAW OFFICE
D.C. Consumer Utility Board and Justice First Join Demonstration as Movement Grows. Cake Delivery, Balloon Release, Tax-Dodger Ballgame Staged in Lobby
WASHINGTON D.C.—Angry D.C. Pepco customers demonstrated today at the law office of Pepco Board Member Pauline A. Schneider and more District organizations joined the protest calling on Pepco to withdraw its $42.5 million rate hike request; cut top executives’ pay in half; and pledge to dedicate the utility company’s multimillion-dollar tax return to infrastructure improvement and job creation. Members of the D.C. Consumer Utility Board and Justice First, the utility watch dog organization, are joining District residents supported by OurDC in the surprise protest.
“Pepco has received three undeserved rate increases the past three years, while consumers are struggling to maintain jobs and receive the same poor service. The D.C. Consumer Utility Board challenges the D.C. Public Service Commission to deny Pepco’s proposed $42.5 million rate increase,” says Herbert Harris Jr., chairman of the D.C. Consumer Utility Board.
Pepco shareholders should bear the cost of job-creating infrastructure improvements and not be allowed to recover money from D.C. customers. From 2008–2010, Pepco CEO Joe Rigby earned $8.8 million and Pepco’s top officers earned more than $22 million. During that same period, Pepco reported $882 million in profits and paid no federal and state income tax. Instead of paying federal income taxes, Pepco received a $508 million refund and received $817 million in tax subsidies.
Crystal Kim of Justice First is also pledging members for the protest. “Pepco’s CEO and investors have amassed a huge fortune by charging exorbitant rates while providing deplorable service to the residents of the D.C. metro area,” Kim says. “There should be an immediate moratorium on all shutoffs of electricity and a rollback in rates.”
WHAT: Surprise Protest at Pepco Board Member Pauline A. Schneider – Partner, Orrick, Herrington & Sutcilffe
WHEN: Friday, March 2, 2012, at 1 p.m.
WHERE: 1152 15th St., NW, Suite 100, Washington, D.C.
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