Bainbridge gets left out to dry with PSE switch | LETTER TO THE EDITOR

Published 11:05 am Sunday, June 12, 2016

To the editor:

I recall asking my brother how the town he lived in could survive without any industry. His response was, “We just take in each other’s wash.”

Bainbridge Island’s city fathers have a different solution. They want to buy the assets of Puget Sound Energy, and sell power to the citizens. They will borrow $100 million to $150 million, and secure it with a bonded indebtedness. The income from power sales will ultimately pay the interest, the debt, depreciation, jobs created, infrastructure and, in addition, the power rates will go down.

What if it doesn’t work out? It’s easy. Just raise the rates.

What’s the burden of paying off the bonds? Well, the answer to that is, “nothing is perfect.”

I liked my brother’s explanation better.

DICK KRUTCH

Bainbridge Island