So if they come in and raise your rates, you got to pay it. If they mismanage your utility company you got to deal with it. And these aren't hypothetical problems. Back in 2014, a private equity company in Michigan bought out a public utility, then turned around and quickly started raising rates. Soon enough, the 52,000 customers in Michigan who used this utility were paying over 40% more for their electricity than the average rate of utilities in other parts of Michigan. (03:15–03:25)
CLAIM
Asserts that a private equity company in Michigan raised rates after buying a public utility in 2014.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
