The attached video addresses several points about the requested SJWC GRC (Rate Increase):
- SJWC has requested a 44% Rate Increase over the next three years. Significantly higher than inflation and opposed by DRA. Division of Ratepayer Advocates who represent the interests of Ratepayers, that's you and I.
- SJWC has requested that they can use a WRAM/MCBA. SJWC is requesting that profit be seperated from business operations and the economy. WRAM basically allows SJWC to recover the full authorized revenue (profit). This means SJWC is not encouraged to operate in an efficient manner.
- SJWC has a Senior VP of Regulatory Affairs with compensation of more than $600,000/year an excellent bonus plan his objectives in his bonus plan are defined in SEC Filing and the first point of four is, "- Execute and optimize outcome of San Jose Water Company's General Rate Case ("GRC")". Some how "optimize" really sounds like 44%, it doesn't sound like a fair and equitable rate increase. Further is it fair to make ratepayers pay someone "handsomely" whose job is to justifying an outrageous rate increase!
Watch the video and decide what is best for you.
