9/19/26 LTE: Proposition 421.
“Prop 421…secures $2 million a year in local investment funded by TEP, not customer bills…”
So where does this $2,000,000 come from? Does Fortis give its subsidiary, TEP, $2,000,000? Perhaps. With 2025 Fortis net income of $1,710,000,000, that is chump change. But where did Fortis get the 2025 gross income of $12,170,000,000? Either, the funds magically appeared or the funds came from various Fortis’ subsidiaries’ ratepayers.
Since I do not believe in magic money or other magical thinking, I recognize the money always comes from the ratepayer, no matter how much lipstick is applied.
James Abels
Midtown
Disclaimer: As submitted to the Arizona Daily Star.
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