Energy for us, not for profit
what is
public power
?
and what can it do for you?
Public power means the government, democratically elected by residents, controls the energy infrastructure instead of a corporate monopoly. This means there is an inherent incentive to provide great, affordable service to the public, without the complications or costs associated with outside investors or overseas executives.
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DID YOU KNOW
Over 2,000 towns and cities, of all sizes, are served by public power nationwide?
That’s a lot of proof of concept - and more communities are exploring public power every year. But even the term “public power” comes with baggage because most people don’t know what it means, let alone the process to starting a public utility. That’s why we’re here - to bust myths, provide the facts, and give you the information you need to advocate for a new kind of energy.
benefits of public power
let's talk about cost
the most frequent criticism of public power is that it's too expensive, will raise property taxes, or electric rates will need to increase to cover the cost of buying out the utility's infrastructure.
this is false
the true cost of public power
The purchasing of utility infrastructure by public power entities has a very specific process and utilizes special types of loans that allow municipal power companies to keep rates low without impacting property taxes.
Infrastructure
We DON’T pay the cost of infrastructure upfront and it isn’t paid from taxes.
No Tax Impact
Revenue bonds do not impact property taxes like general obligation bonds do. In fact, they have zero impact on property taxes.
Financing Over Time
Infrastructure buyouts are a bit like a mortgage - we pay the cost over 30 years.
Lenders Like Public Power
That’s because when energy is affordable and service is reliable, people can be trusted to pay their power bills. Lenders like to loan money to projects that have guaranteed repayment, like revenue-generating projects.
Revenue Bonds
The money to buyout infrastructure is secured through revenue bonds, or loans that are repaid by electric rates, which will already be cheaper from the launch of the public utility.