#Power & Utilities

[rjzimmerman]

Excerpt from this New York Times story:

The Energy Department said on Thursday that it planned to offer $22.9 billion in loan guarantees to help eight electric utilities around the country modernize their power grids, add large amounts of renewable energy — and pass along any resulting savings to customers.

The deals amount to one of the biggest commitments ever made by the department’s Loan Programs Office, which under President Biden has already doled out tens of billions of dollars for battery factories and other low-carbon energy projects.

As part of the 2022 Inflation Reduction Act, Democrats in Congress handed the office $250 billion in loan authority to repurpose or replace existing energy infrastructure in order to lower air pollution and reduce planet-warming emissions. So far, the office has used that authority to back efforts to restart a shuttered nuclear reactor in Michigan and to help California’s largest utility upgrade its electric grid.

The new loan guarantees, which still have to be finalized, are even more far-reaching. They are meant to help utilities that serve more than 14.7 million people across 12 states upgrade aging transmission lines or build new ones. Doing so, the office said, would help power companies tap into more wind, solar and hydroelectric power while improving grid reliability.

In Michigan, DTE Electric and DTE Gas would receive loan guarantees totaling nearly $9 billion to install thousands of megawatts of solar, wind and batteries and to replace existing gas pipelines in order to reduce leaks of methane, a potent greenhouse gas.

In the Pacific Northwest, PacifiCorp would receive a $3.52 billion loan guarantee to help build 700 miles of new transmission lines in Idaho, Oregon and Utah, with the aim of using more renewable energy and cutting emissions.

In Iowa and Wisconsin, Alliant Energy and its subsidiaries would receive a $3 billion loan guarantee to add more than 2,000 megawatts of wind power and batteries to the grid. The utility is planning to close a large coal-fired power plant by 2030.

Other recipients include Consumers Energy in Michigan; Jersey Central Power & Light in New Jersey; and AEP, which serves Indiana, Michigan, Ohio, Oklahoma and West Virginia.

[anasabdin]

Hum

[nmfonsek-art]

peace of mind.

[shitpostingkats]

The bad kids are a great group dynamic, but also the individual team ups? Never miss.

Fig and Fabian going in to talk to Garthy O’Brien completely confident despite the fact that neither of them remember what they��re supposed to ask for. Adaine and Riz sweating profusely through making small talk but being overjoyed when they get past it and get to investigate a bloody ritual site. Fig and the Cig Figs. Fabian and Gorgug being jocks together (bonus points if there's Ragh). The Bardy Boys. Spring Break I Believe In You. Every combination of these characters is some entirely new nonsense dynamic and I am so here for it

[mostlysignssomeportents]

How an obscure advisory board lets utilities steal $50b/year from ratepayers

I'm on a 20+ city book tour for my new novel PICKS AND SHOVELS. Catch me in NYC on WEDNESDAY (26 Feb) with JOHN HODGMAN and at PENN STATE on THURSDAY (Feb 27). More tour dates here. Mail-order signed copies from LA's Diesel Books.

Two figures to ponder.

First: if your local power company is privately owned, you've seen energy rate hikes at 49% above inflation over the last three years.

Second: if your local power company is publicly owned, you've seen energy rates go up at 44% below inflation over the same period.

Power is that much-theorized economic marvel: a "natural monopoly." Once someone has gone to the trouble of bringing a power wire to your house, it's almost impossible to convince anyone else to invest in bringing a competing wire to your electrical service mast. For this reason, most people in the world get their energy from a publicly owned utility, and the rates reflect social priorities as well as cost-recovery. For example, basic power to run lights and a refrigerator might be steeply discounted, while energy-gobbling McMansions pay a substantial premium for the extra power to heat and cool their ostentatious lawyer-foyers and "great rooms."

But in America, we believe in the miracle of the market, even where no market could possibly exist because of natural monopolies. That's why about 70% of Americans get their power from shareholder-owned companies, whose managers' prime directive is extracting profit, not serving their communities. To check this impulse, these private utilities are overseen by various flavors of public bodies, usually called Public Utility Commissions (PUCs).

For 40 years, PUCs have limited private utilities to a "rate of return" based on a "just and reasonable profit." They always gamed this to make it higher than was fair, but in recent years, the "experts" who advise PUCs on rate-setting have been boiled down to a tiny number of economists, who have discovered that the true "just and reasonable profit" is much higher than it's ever been considered.

Mark Ellis worked for one of those profit-hiking "experts," but he's turned whistleblower. On paper, Ellis looks like the enemy: former chief economist at Sempra Energy, an ex-Exxonmobile analyst, a retired McKinsey Consultant, and a Socal Edison engineer. But Ellis couldn't stomach the corruption, and he went public, publishing a report for the American Economic Liberties Project called "Rate of Return Equals Cost of Capital" that lays out the con in stark detail:

https://www.economicliberties.us/wp-content/uploads/2025/01/20250102-aelp-ror-v5.pdf

I first encountered Ellis last week when he was interviewed on Matt Stoller and David Dayen's excellent Organized Money podcast, where he memorably referred to these utilities as "pocket-picking machines":

https://www.organizedmoney.fm/p/the-pocket-picking-machine

Dayen followed this up with a great summary in The American Prospect (where he is editor-in-chief):

https://prospect.org/environment/2025-02-21-secret-society-raising-your-electricity-bills/

At the center of the scam is a professional association called the Society of Utility and Regulatory Financial Analysts (SURFA). The experts in SURFA are dominated by just four consulting companies, who provide 90% of the testimony for rate-setting exercises. Just two people account for half of that input.

In order to calculate the "just and reasonable profit," these experts make use of economic models. Even in normal economics, these models are the source of infinite mischief and suffering, built on assumptions that legitimize the most abusive conduct:

https://pluralistic.net/2023/04/03/all-models-are-wrong/#some-are-useful

But even by the low standards of normal economic models, the utility models are really bad. They rely on unique "risk premium" and "expected earnings" calculations that no one else in finance will touch. As Dayen explains, these models are "perfectly circular."

This might be a bit confusing, but only because it's one of those scams that you assume you must have misunderstood because it's so, well, scammy. In the "expected earnings" analysis, the "just and reasonable profit" a utility is allowed to build into its rates is defined as "the amount of money it would like to make." In other words, if a utility projects future revenues of $10 billion over the next ten years, that is its "expected earnings." "Expected earnings" are treated as equivalent to "just and reasonable profits." So under this model, whatever number the utility puts in its financial projections is the number that it's allowed to take out of the pockets of ratepayers.

This is just as bad as it sounds. In 2022, the Federal Energy Regulatory Commission said that it "defied financial logic." No duh – even SURFA's own training manual says it "does not square well with economic theory."

In the world of regulated utilities, this kind of mathing isn't supposed to be possible. The PUC and its "consumer advocates" are supposed to listen to these outlandish tales and laugh the utility out of the room.

But it's SURFA that trains the consumer advocates who work for the PUCs, the large energy customers, and community groups. These people – who are supposed to act as the adversaries of the companies that pay SURFA members to justify rate-hikes – are indoctrinated by SURFA to treat its absurd models as accepted economic gospel. SURFA has co-opted its opposition, transformed it into a botnet that parrots its own talking-points.

Because of this, the private power companies that serve 70% of US households made an extra $50b last year, about $300 per household. What's more, because the excess profits available to companies that simply bamboozle their regulators are so massive, they swamp all the other tools regulators use to attempt to improve the energy system. No incentive offered for conservation or efficiency can touch the gigantic sums energy companies can make by ripping off ratepayers, so nearly all the incentive programs approved by PUCs have been dead on arrival.

What's more, utilities are allowed to fold the cost of hiring the experts who get them rate hikes onto the ratepayers. In other words, if a utility hires a $10,000,000 expert who successfully argues for a $1,000,000,000 rate-increase, they get to recoup the ten mil they spent securing the right to rip you off for a billion dollars on top of that cool bill.

We often talk about regulatory capture in the abstract, but this is as concrete as it can be. Ellis's report makes a raft of highly specific, technical regulatory changes that states or cities could impose on their PUCs. These are shovel-ready ideas: if you find yourself contemplating a sky-high power bill, maybe you could call your state rep and read them aloud.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2025/02/24/surfa/#mark-ellis

[playerkingsley]

the throughline of “little lies are ok” and “lying is ok if it helps your friends and family, but you’ve got to tell the truth about lying” and the shared domain of trickery between the main instigator and adversary of the calamity, asmodeus, and the moonweaver, who takes the first steps to define (and weave, if you will) the new relationship between divinity and those left behind on the material plane, all culminating to sehanine then wielding this aspect of illusion and untruths they share and literally slapping her brother back to the pit of the hells? perfection, absolutely no notes

[greenleaf4stuff]

I cannot get over the little detail of Adar actually releasing Elrond's hand in that scene. (We can see some of it at the bottom left corner of the 1st gif, his grip is already loosening after Elrond drops his weapon; see the 2nd gif for comparison.)

My interpretation is that he is so sure of his greater strength and advantage, and that Elrond doesn't have the ability to fight back/no more knives up his sleeve (so to speak), that he lets Elrond have full autonomy of both of his hands. Mind you, Adar hasn't even lifted Elrond up yet and Elrond could have still fought back multiple ways (using his legs to struggle etc) at this point.

And then Adar proceeds to lift him up, hold him up, choke him and throw him aside like it is nothing. One-handed. Showcasing his physical strength but also retaining the ability to defend himself should Elrond suddenly manage to fight back.

imo, this and his fight with Arondir really show what a unit he is in battle. And that he is aware of it.

[sweetmapple]

Elias ‘BPM’ Bouchard (Brutal Pipe Murder)

[ed13d1]

revival

[ofswordsandpens]

Riordan: And the grand lesson that Percy needed to learn over the course of hoo, the culmination of his character arc of this series, the moment where the fate of the world hangs in the balance because of a single decision he has to make... is realizing when he needs to take a step back :)

Me:

[philosophybits]

Oppression tries to defend itself by its utility. But we have seen that it is one of the lies of the serious mind to attempt to give the word “useful” an absolute meaning; nothing is useful if it is not useful to man; nothing is useful to man if the latter is not in a position to define his own ends and values, if he is not free. Doubtless an oppressive regime can achieve constructions which will serve man: they will serve him only from the day that he is free to use them; as long as the reign of the oppressor lasts, none of the benefits of oppression is a real benefit. Neither in the past nor in the future can one prefer a thing to Man, who alone can establish the reason for all things.

Simone de Beauvoir, The Ethics of Ambiguity

[sha-brytols]

magical derangement syndrome (dont worry about the name. hysterically its not as bad as it sounds) sounds exactly like that one fan theory about alistair. someone remind me to write this part down so i dont forget

[millipede3000]

i forgot to post these

[kathaynesart]

in the time of the holiday special, do the boys all still have their ninpo?

They do! In fact this is pretty much the height of their Ninpo strength. Remember this?? This is where they're at right now!

We'll get to see some of this soon. I'm really excited to dive into more of their abilities. Got some ideas on how their powers have evolved that I've yet to see utilized within the fandom. Like... what ELSE could Mikey do other than just use chains to throw things? How else could Leo use portals both defensively and offensively? It's a fun puzzle to ponder. I just hope I can do the upcoming action sequences justice because I really... really... don't do them ever. Pray for me.

[hestzhyen]

Chapter 81 Mistrust Posting

Hello, dear void! LET'S! GO! ☆*: .｡. o(≧▽≦)o .｡.:*☆

Big spoiler this week in the editor's notes so the post is continued under the cut!

Editor's notes: First Page: 神奈備職員が"松"の妖術で爆散！！[Kamunabi shokuin ga "matsu" no youjutsu de bakusan!!] "Kamunabi employees are exploding due to the 'pine tree' sorcery!!" Last Page: 死んだハズの漆羽！一体ナゼ？！[shinda hazu no Uruha! ittai naze?!] "Uruha was supposed to be dead! What the heck?!"

Hakuri, Alone

Poor guy...

He hypes himself up but he's so shaky. My poor little guy who's been through so much but keeps trying his best. Hakuri, I love you. He's not in a great mental state but he keeps going.

It's really obvious now how out of his element he is- he's not used to any of this except the beat-downs and not being able to trust people. How to fight, how to keep himself stable when everything's riding on him, having people sacrifice themselves for him... he can keep going, and he will, but man he really could use an ally right now. Especially since his sorcery is seriously limited after he overexerted himself. Only two Isou blasts and he's out.

I'm glad we have his PoV and that he's the fourth thing the Kamunabi needs to protect at all costs. He's important! Hopefully he'll start to learn to see himself that way without more people needing to die for him.

Why is he the fourth thing? Well, because of the framing.

Note the Sword Master being chained to a spike like a dangerous wild animal...

Izaru (a name at last!) here's listing off the most critical things the Kamunabi needs to protect. The first three are expected: you need security to protect the other two, which we know by now are absolutely essential to keep out of the Hishaku's hands. The fourth? Well, it's the guy sprinting in the next panel whose sorcery is essential to thwarting the Hishaku by isolating the second critical item.

Speaking of names, though...

ManBearPig and Mr. Many Islands

He's Mutton Chops no more. Hello, Izaru (亥猿)! 亥 [i] is the kanji for the Boar from the Chinese Zodiac, and 猿 [zaru] is... the character for monkey. Or an insult for a sly person/hick. Hmm. He's definitely not a traitor still in my mind, since he's the guy with the most obvious faith in the institution. He's like an old bureaucrat who believes in the mission and the power it gives him. I'll leave the interpretation of his name up to anyone who happens to read this.

Izaru's kind of an asshole but he's an asshole who knows his shit and gets stuff done. I feel like he's going to be a thorn in Team Goldfish's side but not because he's evil, he's just got his own ideals. Looking forward to seeing more of him.

Right through the heart, damn.

As for Kashima (加島), his name's pretty generic. 加 [ka]: add, augment, increase and 島 [shima]: island. I sincerely doubt this links him to the small island country that got nuked by the Sword Master; it's just a common last name. He was a good guy though so rest in peace. Another person to add to Hakuri's trauma pile of decent folks who have died via a slash to the neck (at least this time it wasn't a suicide). Can we stop killing people in front of Hakuri? Please?

I do wonder how he's going to make it out of this. He really needs a strong friend to help protect and reassure him, but he's alone. Anyone could be an enemy- willingly or not. Chihiro's busy in Kyoto and can't be summoned right now, Azami's busy, Kudou's dead, Izaru's commanding things from the barrier room, the rest of the leaders are MIA. Who can help him reach the Shinuchi safely?

Well.

It's been teased for months over dozens of chapters since he was killed. His status was in doubt: Shiba couldn't find information, Chihiro outright refused to believe it, even the Masumi were unsure. Samura was revealed to have the power to heal on top of being a tortured soul that just wants to save people. The mysteries of how the bond to an Enchanted Blade affects the bearer over a long period of time are still unknown. And so, at long last:

HE'S BACK, Y'ALL

Cry for both of us, Hakuri!

WELCOME BACK, URUHA! I'VE BEEN WAITING FOR YOU! Seriously, the platonic duo of Hakuri and Uruha was one of my favourites and I hope we get to see a ton of them from here on.

The theory of Samura wanting to break the other Bearer's bonds to their blades through death then killing the Sword Master has increased validity now, in my opinion. It was stated that Suzaku can't actually reverse death -and Chihiro and Uruha were both confirmed dead- but it was also noted that Samura has gotten insanely strong since the war ended 18 years ago. He might be able to do it now. Kill his former comrades-in-arms to spare them from all going down when he kills the Master, except himself. He's got all that damn guilt... Chihiro, I hope you can snap Samura out of his grief before Iori becomes the newest orphan in the series.

Check out Uruha's outfit though! It's got elements reminiscent of the Steam Squad's uniforms- especially Fushimi's- added to it!

It's him, it's really him!

The new buckles on the collar are like Fushimi's (which he left undone), plus the pants and footwear are more similar to the squad's now. Congratulations, FushiUru shippers. Not only did Uruha come back but he got a wardrobe update that plausibly calls back to his dead (boy)friend.

It's a bit obvious after all the emphasis this chapter on how alone Hakuri is, but it's still nice to see the callbacks so we know this Uruha is the real deal. Even if someone else was able to replicate that bonkers sword style, only the real Uruha would know about the "centipede" moment on the train. So there's zero doubts and Hakuri has a strong ally to help him get to the Shinuchi! I'm not worrying about why Hakuri's being used as bait to lure out the core forces, nor what will happen to him if he successfully puts the Shinuchi into his storehouse, or what his deep desire to be useful will lead him to do. I'm just elated that he's got Uruha at his side. I will take a week of joy before we start to slide back down into anxiety.

I said in my chapter 47 and 48 yapfests that Uruha was the one set up to help Hakuri realise his own worth so now I can't wait to see how it happens. Uruha backstory, please? Scenes of the older silly guy teaching the younger silly guy? Honestly I just want to see them interact! Hakuri's total lack of self-awareness and both of their ridiculous behaviour tendencies are something I need a lot more of in my life.

I deeply wish to know exactly what happened with Uruha so if we cut back to Chihiro or Azami next chapter I'll be in mild distress. Not a lot since I love both of those characters and want updates on them too, but some.

Traitors

Pretty sure this is the girl and the blond guy were in the group panel shown last chapter.

Not really a surprise that there are members of the Kamunabi who are willing to betray their allies. The Hishaku are quite persuasive and I know the Kamunabi's got skeletons in their closet even if we don't know their exact shape yet. We still don't know which of the four who helped Kunishige hide leaked information yet, though. We need to know who the people in this top panel report to, I think, to get the full picture:

Which of you will become a foe?

I wonder where Hagiwara's loyalties lie now. Obliterating the Hishaku? Doing whatever it takes to stop the usage of Enchanted Blades? And hey, uh, where's Kazane in all this?

There's more than just two people out there killing their former allies, with a quota per team, per area too. So this was meticulously planned by someone with authority most likely. The traitor subplot is unfolding at just the right pace to keep me interested without feeling drug out or rushed. New details are revealed when they're needed and not too much or too little at once- the structure of this one is much, much better than the Hotel. I think we're on the up and up for the rest of this arc since the Hiruhiko sideshow is definitively over for now.

Some Accounting

Completely unrelated, Hakuri's just super cute.

Alright. Just for my own tracking:

KYOTO Chihiro vs. Samura set up at the hotel; Enten and Tobimune in use, Kumeyuri present but still bonded to Hiruhiko Iori, Ikura, all three Masumi on the hotel roof Hiruhiko, Toto, Kuguri on the retreat somewhere in Kyoto

TOKYO Azami vs. Samuraishaku set up in an arena with live music on the first floor of the Kamunabi HQ Hakuri and Uruha on the way to the Shinuchi several floors below Izaru with the barrier team Kudou dead in the elevator shaft, his team was wiped out too Unknown number of traitors eliminating other Kamunabi staff as part of a plan About 50 pine tree "bomb" carriers left Ichiki, Beard, Hairclips, Eyepatch, Earlobes, Giraffe Neck unknown Hatshaku managing hostage situation from outside Kamunabi HQ Yura, Jane, Derek, and other two core members unknown Two unnamed blades unknown

ELSEWHERE Shiba and Hiyuki guarding the two Bearers we haven't met yet

That's all I've got for now. Revel in the joy of Uruha being back until next week, kind void!

[smoozie]

The lifers would be such a GOOD superhero team it's crazy. Any superhero aus gotta split them up because all together they'd be op.