I've been wanting to get this out now for a few days. But, first I had to calm myself so that I could write reasonably. In last Friday's Journal Sentinal there was a rather small article in the business section about WeEnergies dividends being raised. I'm quite sure this news didn't make any of the news programs on local television either or there would have been an outcry.

In the wake of lower sales of electricity to big business by about 6% WeEnergies Corp.made an announcement that their earnings would be below what had been projected. The article goes on to say that this was a "decline comparable to the recession of the early 1980's". Mr Gale Klappa, chairman and CEO of WeEnergies reiterated that statement.  "Under an updated forecast, the utility is  projecting electricity sales to large businesses and factories to decline by 6% in 2009 from this year". Another WeEnergies spokesman, Brian Manthey also commented that these slowdowns were "seen across the board from a variety of industries". The article goes on telling about how they dropped their dividends by 50% back in 2000 so that they could "advance their plant-building program". So much for their self sacrifice and self pity party.

Now here comes the kicker. The above announcement was made at the same time that WeEnergies said they would be " "RAISING their quarterly stock dividend by 25% in the first quarter, with plans to boost it further in the next several years". Now I'll be the first to admit that at times I'm mathmatically challenged. However, the question that has been eating in my brain is how can this company that has NO competition in the area raise its stock dividends by 25% when their earnings are DOWN by 6%? This is the same as though I went grocery shopping and bought lobster when all my budget allows is the much cheaper catfish or pollack. Where will the extra money come from?

That extra money, dear readers, is coming from YOU. How many of you have received notices from WeEnergies about rate increases? How many of you that are part of the budget plan have received notices that your monthly rate is going up? This is where that 25% extra dividend is coming from dear readers. Despite the fact that we are in a depression and so many of us are laid off, outsourced, working part time and out of work completely, our rates are getting raised so that the fat cat stockholders can get their 25% dividends.

Mr. Charlie Higley, chief executive director of CUB said, "Ultimately, ratepayers are paying higher energy prices so that shareholders can receive profits, and in these tough economic times that puts more burden on households to afford their energy bills". I, personally, don't know what can be done to get our rates lowered or stay at the same monthly rate. Try calling the customer service people that work there and see what they can do to reduce your monthly budget rate or try lowering your thermostat and put more clothes on. Try shaming WeEnergies publically to be more concerned for the multitude of their customers who are merely trying to survive this recession than the wallets and portfolios of their  shareholders.