Once Debt is Paid, What Will We Own?
I work with one of the larger customers of Rocky Mount Utilities and happen to be far outside of the city limits of Rocky Mount. We have done quite a bit of research associated with the utilities issue as it is very important.
First off, in my opinion, there is no larger issue facing Rocky Mount, Wilson, Greenville, New Bern and the many other municipalities who chose to become members of ElectriCities.
These cities did not necessarily volunteer for membership, but due to projected electricity shortages, joined to insure a stable energy source. This was approved through the N.C. General Assembly.
The agency provided energy as projected until around 1999 after the flood. Soon after the flood and in conjunction with numerous other causes, electricity consumption dropped in eastern N.C. The loss of several manufacturing facilities, which used large amounts of electricity, caused demand to drop.
Unfortunately, the debt associated with ElectriCities remained as it does today. This burden on our communities will only continue to grow as businesses relocate out of the ElectriCities grid. No energy intensive business will choose to locate a business on this grid when they can move only a short distance away and connect to a source that is at least 40 percent less.