Corporate Vultures Are SNAPPING UP Public Utilities & Electric Bills To SKYROCKET! (Jimmy Dore)

Private equity firms like BlackRock and Blackstone are acquiring U.S. electric utilities, raising concerns about monopolistic control and skyrocketing electricity rates. Historical examples, such as California’s 2000–2001 energy crisis, demonstrate how privatization can lead to price gouging, rolling blackouts, and market manipulation for profit. Critics warn that these acquisitions exploit political influence, labor allies, and clean energy groups to advance deals, while leaving consumers with limited recourse and higher costs.

Jimmy and Stef talk about how government-managed utilities historically provide stable service without profit motives, contrasting sharply with private equity-driven models.



The thing about public utilities is that it's a captured market. You can't privatise it and have enough competition to drive down prices. And corporatists running a captured market will do what they can to squeeze out profits at people's expense.

[Posted at the SpookyWeather2 blog, August 28, 2025.]