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GRU, S&P and the Big Lie
Offended! Offended, I say! Craig Lowe is just offended and incredulous that Nathan Skop would point out that there is a dark side to Gainesville Regional Utility's Standard & Poor's rating, but that isn't half as entertaining as Susan Bottcher trying to paint a picture of Skop as a mentally deranged psychopath. Yep, the last I heard, the stories out of the Poe, Lowe, Bottcher camp is that Skop goes out on weekends to club baby seals just for the sport of it.
 So, back to GRU, Lowe and his whining about Nathan Skop. Nathan correctly pointed out that the Gainesville City Commission's big lie is that the Standard & Poor's rating is, to a great deal, predicated on the fact that same City Commission is willing to continue to raise rates to meet the $1.025 billion (and growing) debt service, not to mention the more than $3 billion that they contracted at inflated prices to pay GREC for biomass power.
According to the Gainesville Sun, one of the strengths identified by Standard & Poor's is:
"Commission support for rate increases to maintain financial profile despite large capital spending program."
Translation: despite the fact that GRU has committed to spending a mountain of money, it's ok since they have also committed to continuing to raise customer rates.
According to the Gainesville Sun, one of the concerns that S&P had was:
"Debt burden associated with a 'sizable capital spending program from 2005-2017, although rate increases implemented and planned help mitigate this."
Translation: despite the fact that GRU has committed to spending a mountain of money, it's ok since they have also committed to continuing to raise customer rates.
Wait! Both of those translations are the same thing. How weird!
Folks, the fact is that while Craig Lowe is accusing Skop of trying to sabotage GRU's S&P rating, and while Susan Bottcher is trying to convince you that he is a raging psychopath, Skop is right, and Lowe is not telling you that the commission can continue GRU's outrageous spending because they will just keep raising your rates to infinity and beyond.
Check it out. Businesses in Alachua County already pay the highest electric rates in the state. If you are a family with several children or a handful of college students sharing a house and your usage puts you in GRU's second tier, you are paying some of the highest residential rates in the state, and that's without GRU's fuel surcharge.
Hang on, Gainesvillagers! (ack! gag!) The Poe, Lowe, Bottcher cabal ain't done yet!
And, Nathan Skop is right!
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