Empire District Electric Company
Encyclopedia
The Empire District Electric Company is an investor-owned, regulated utility providing electricity to approximately 215,000 customers in southwestern Missouri
, three counties in northeastern Oklahoma
, and very small adjacent areas of Kansas and Arkansas. Joplin, Missouri
is the largest city in their service coverage area, and is also their home base. Empire also provides other utilities to some of their customers such as water, natural gas, and fiber optic services through its subsidiaries.
Empire Electric is a publicly traded corporation under the ticker symbol (NYSE: EDE).
Little more than a week after a deadly tornado hit Joplin and destroyed 8000 homes, state utility regulators on June 1, 2011, approved a 4.7 percent ($18.7 million) rate increase for Empire, the electric company that serves the area. This increase followed closely on the heels of a 13.4 percent rate hike in August, 2010, as well as a 6.7 percent increase in July, 2008. As with every other incident, Empire has always sought even larger increases than those that have been granted by the state regulatory agency, the Missouri Public Service Commission
(MPSC).
Because of an excessive decade-long increase of 313%, a Facebook
page was started in May of 2011 to oppose the Empire District's relentless rate hikes. This group has garnered over 1000 members and continues to grow rapidly. Empire District is a monopoly, and is therefore not subject to competition. Because of a state law favoring utility companies, its customers are not free to switch to another provider without legal proceedings.
In 2010, Empire CEO William L. Gipson received $1,439,300 in total compensation. By comparison, the median worker made $33,190 in 2010. Mr. Gipson thus made 43 times the median worker's pay. The company chose to discontinue its participation in ELIP, an externally-managed program benefiting low-income customers, as of June 15, 2011. At the same time, Empire has indicated some intention to seek yet another rate increase from the MPSC.
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
, three counties in northeastern Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
, and very small adjacent areas of Kansas and Arkansas. Joplin, Missouri
Joplin, Missouri
Joplin is a city in southern Jasper County and northern Newton County in the southwestern corner of the US state of Missouri. Joplin is the largest city in Jasper County, though it is not the county seat. As of the 2010 census, the city population was 50,150...
is the largest city in their service coverage area, and is also their home base. Empire also provides other utilities to some of their customers such as water, natural gas, and fiber optic services through its subsidiaries.
Empire Electric is a publicly traded corporation under the ticker symbol (NYSE: EDE).
Little more than a week after a deadly tornado hit Joplin and destroyed 8000 homes, state utility regulators on June 1, 2011, approved a 4.7 percent ($18.7 million) rate increase for Empire, the electric company that serves the area. This increase followed closely on the heels of a 13.4 percent rate hike in August, 2010, as well as a 6.7 percent increase in July, 2008. As with every other incident, Empire has always sought even larger increases than those that have been granted by the state regulatory agency, the Missouri Public Service Commission
Missouri Public Service Commission
The Missouri Public Service Commission regulates investor-owned telephone, electric, natural gas, steam, water, and sewer utilities in the state of Missouri. Manufacturers and retail dealers who sell new and used manufactured homes and modular units are also regulated by the commission.The PSC is...
(MPSC).
Because of an excessive decade-long increase of 313%, a Facebook
Facebook
Facebook is a social networking service and website launched in February 2004, operated and privately owned by Facebook, Inc. , Facebook has more than 800 million active users. Users must register before using the site, after which they may create a personal profile, add other users as...
page was started in May of 2011 to oppose the Empire District's relentless rate hikes. This group has garnered over 1000 members and continues to grow rapidly. Empire District is a monopoly, and is therefore not subject to competition. Because of a state law favoring utility companies, its customers are not free to switch to another provider without legal proceedings.
In 2010, Empire CEO William L. Gipson received $1,439,300 in total compensation. By comparison, the median worker made $33,190 in 2010. Mr. Gipson thus made 43 times the median worker's pay. The company chose to discontinue its participation in ELIP, an externally-managed program benefiting low-income customers, as of June 15, 2011. At the same time, Empire has indicated some intention to seek yet another rate increase from the MPSC.
- Empire District's street address: 602 South Joplin Avenue, Joplin, MO.
- Mailing address: PO Box 127, Joplin, MO, 64802.
- Phone: 800-206-2300.