Dear Mr. Rigby, Pepco CEO:
I am fed up with Pepco’s top executive compensation packages, job cutting and poor service; while paying no income taxes and profiteering at the expense of consumers like me.
As a Pepco customer, I demand Pepco withdraw its $42.5 million rate hike request, cut the top executives’ pay in half, and dedicate the utility company’s multimillion-dollar tax refund to job creation.
As the District’s largest distributor of electricity, Pepco is one of the most profitable companies in the Washington area. The weight of the economic crisis is crushing both the unemployed and working families. Poor and working people are losing their jobs and being evicted from their homes because of foreclosure. People are fighting to keep their lights on while you recently were awarded a three-year $6 million compensation package.
From 2008 until 2010, Pepco earned $882 million in profits; paid no federal or state income taxes; and received $508 million in federal tax refunds and $817 million in federal tasx subsidies. That’s more than $2 billion in a three-year period.
As Pepco’s CEO, you have clearly and successfully filled the bank accounts of shareholders while ignoring infrastructure upgrades and local operation staff growth to assure good service.
I urge the D.C. Public Service Commission, Mayor Vincent Gray and the D.C. City Council to join me in saying NO to you and Pepco’s continuing attempt to rob my neighborhood of good service while rewarding the rich.
An Unhappy Pepco Customer