Now, what happened as the gentleman just pointed out with Duke and with all the others, they are no exception, is that they no longer had under deregulation a duty to serve their customers. Their only duty is to serve their stockholders and the people on Wall Street. If they can make more money by blacking you out, shutting you down, closing other businesses for lack of power, it is their duty, their fiduciary responsibility as their board of directors sees it to do that. That is why they tied their floor traders to the plant operators. It is absolutely outrageous to think that that is what the system has come to.
Bob Filner: “Now, what happened as the gentleman just pointed out with Duke and with all the others, they are no exception, is that…”
On the recordJuly 11, 2001
Source
govinfo.govEditor's note · Context
Discussing the impact of deregulation on utility companies and their responsibilities to customers.
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