“Utilities used deregulation to effect a series of mergers limiting competition. In order to accelerate profits, cost cutting ensued, involving the layoff of thousands of utility company employees, including some who were responsible for maintenance of generation, transmission, and distribution systems. A number of investor-owned utilities stopped investing in the maintenance and repair of their own equipment, and, instead, cut costs to enhance the value of their stock rather than spending money to enhance the value of their service.”
Quote by Dennis Kucinich
Author
Dennis Kucinich
Dennis Kucinich is a former U.S. Representative from Ohio, born on October 8, 1946. He is recognized for his progressive politics and his tenure as the mayor of Cleveland, Ohio from 1977 to 1979. Kucinich has been a vocal advocate for peace, social justice, and environmental issues throughout his political career. more