Some utility industry officials are lobbying lawmakers on privatizing federally-owned power projects like the Tennessee Valley Authority and the Bonneville Power Administration.
This is a horrible idea.
Almost 20 million electricity customers served by BPA in the Pacific Northwest and TVA in the Southeast get the nation’s cheapest and most reliable power from these not-for-profit government agencies that get no government funding but exist solely on their sales. Privatizing them would be a huge mistake, although it might make a few new American oligarchs.
In fact, privatization of government entities has never worked. It has only made a handful of businessmen very rich and has cost taxpayers a lot more money. Whether it’s prisons or the military, privatization has always increased costs, decreased quality and services, and encouraged corruption.
Emphasis is ours. Read James’ complete column at Forbes.
