Does JEA have money to burn?

Well, it might be healthier for Jacksonville than all the coal it burns. But seriously, according to the September 4th issue of Folioweekly, in an article entitled "Bill of Goods," JEA has collected $208 million more than it needed from customers. This, in spite of the fact that JEA promised it would lower rates if fuel prices dropped. The math was done by Bruce Strauss, current retiree and former investigator for the IRS.

What could JEA do with all this filthy lucre? Well, for one, how about clean up its filthy coal plants? Or invest more in renewable energy, from solar, wind, or tidal sources? That way, the cost of "fuel" will never go up, and JEA will no longer have to raise our rates so much, as it does every time coal prices skyrocket.

But wait mystery lovers, there's more. Is there a nefarious plot behind all this extra loot? Folioweekly suggests the city may be looking to sell JEA, and the extra money could help the sale price. That, according to Art Shad, chairman of the City Council's Finance Committee would be a bad idea. According to Folioweekly..."Shad's concern is that profits from the company would go to shareholders outside the area. Shareholders would also want to see a profit and would increase utility rates in order to increase dividends." Bottom line is, if JEA is city-owned, its number one priority is to us, the residents of Jacksonville (although you couldn't tell that from its action, specifically emitting so much toxic mercury).