Consumers First and the Attorneys General of 13 states have filed two separate motions with the Federal Energy Regulatory Commission (FERC) to prevent Vanguard from receiving authorization to purchase shares in publicly traded utilities.
Vanguard is ESG is World Economic Forum is climate change extremism. If they get power over our utilities, they will look to raise our energy rates in the name of climate change.
Financial organizations committed to forcing a green energy transition the Western World isn’t ready for shouldn’t be in a position to drive up utility costs for middle-class families.
Affordable, reliable energy production is the foundation of America’s economy.
These billionaires want to drain every last dollar from the middle class.
President of Consumers First William Hurd said, “FERC’s job is to defend utilities from exactly this type of reckless interference. They must act immediately.”
THE VERY IMPORTANT CASE
The coalition is asking the Federal Energy Regulatory Commission (FERC) to prevent the financial institution Vanguard from purchasing shares of publicly listed utility companies.
The state officials, led by Utah Attorney General Sean Reyes, asked the Federal Energy Regulatory Commission (FERC) to hold a hearing examining whether Vanguard Group should be given blanket authorization to purchase large quantities of public utility stocks due to its support for environmental, social and governance (ESG) investing. ESG standards broadly promote investments in green energy over fossil fuels.
Vanguard wants $10 million worth of public utility shares.
“The Commission granted the 2019 Authorization based on assurances from Vanguard that it would refrain from investing ‘for the purpose of managing’ utility companies,” the state officials wrote in the filing Monday. “Vanguard also guaranteed that it would not seek to ‘exercise any control over the day-to-day management’ of utility companies nor take any action ‘affecting the prices at which power is transmitted or sold.’”