Overpower Pepco

FOR IMMEDIATE RELEASE: CONTACT: James Adams 202-­‐536-­‐7880 March 21, 2012 james.adams@thisisourdc.org Pepco-­‐ 701 9th St NW

D.C. Community Groups and Customers Fight Pepco Rate Hike and Call for Pepco to Pay Fair Tax Share

WASHINGTON D.C. — Chanting “Pay your Fair Tax Share and P.I.G.-­‐ Pepco is Greedy”, hundreds of D.C. and Maryland residents protested at Pepco’s four customer service centers. “It’s like Pepco’s on tax welfare and I’m picking up the tab,” says Eric Johnson, an unemployed D.C resident. ANC’s, civic associations, community organizations and average citizens joined the main demonstration and rally at Pepco’s 9th Street headquarters.

Pepco’s corporate posture of tax avoidance, lobbying to keep consumer advocate, Elizabeth Noel, off of the Public Service Commission Board, and its continued efforts to boost shareholder income by raising rates hurts every D.C. resident.

The demonstration brought traffic to a standstill as protesters staged a rally in front of Pepco’s 9th street headquarters. A 30 foot pig was inflated and protesters unfurled banners that read, “Pepco is Greedy” in the middle of 9th street. Scores of Pepco employees could be seen watching the rally from building windows. The demonstration coincided with the D.C. Public Service Commission meeting where it was announced today that evidentiary hearings on Pepco’s $42.5 million dollar rate hike request would continue on June 4th.

D.C. citizens are demanding Pepco withdraw its $42.5 million dollar rate hike request, cut top executives’ pay in half, and pledge to dedicate the utility company’s multi-­‐million dollar tax return to infrastructure improvement and job creation.

From 2008–2010, Pepco CEO Joe Rigby earned $8.8 million and Pepco top officers earned more than $22 million. During that same period, Pepco reported $882 million in profits, paid no federal and state income taxes and received $817 million in tax refunds. Meanwhile, D.C. customers received the utility company rated “Worst in the Nation,” according to the American Satisfaction Index, and Rigby received a $105,000 salary increase this year.

Twitter Updates @thisisourdc Web Updates thisisourdc.org

Comments are closed.