Why not just fix the Public Service Commission?

When utilities like Central Hudson file for rate increases, they submit various reasons as to why they need to increase their revenues. When reviewing these needs, the Public Service Commission (PSC) is obligated to protect the company’s economic viability, given that it must make profits to survive. First, it is understood that if Central Hudson doesn’t earn enough dividends for Fortis shareholders, its standing as a business is compromised. Second, it is understood that if Central Hudson doesn’t raise a certain amount of revenues, its “financial integrity,” or borrowing capacity, is compromised, which means the rates will have to go even higher to make up for higher interest rates.

While several improvements can be made to the PSC, including who gets to appoint the commissioners, having to protect profits is the primary conflict that cannot be addressed as long as the need for profit exists.