Energy Retailer Research Consortium: Competitive Electricity Markets Are Thriving
Competitive electricity markets create jobs and promote energy efficiency and renewable energy development, concludes a study released today by the Energy Retailer Research Consortium, an independent research group that supports retail energy choice. The Annual Baseline Assessment of Choice in Canada and the United States (ABACCUS) found that customer choice is thriving in many U.S. states and Canadian provinces because well-structured electricity markets are fostering the introduction of numerous product offerings and services that are not available in monopoly electricity markets.
COMPETE’s national co-chairman, the Honorable Federico Peña (former U.S. Secretary of Energy and U.S. Secretary of Transportation), had the following to say concerning the report:
“The ABACCUS report highlights the success of competitive electricity markets in delivering economic and environmental benefits to consumers. Where competition thrives, we’ve witnessed unparalleled innovation, reliability, infrastructure investment, and choice. By freeing consumers from being captive to monopoly providers, competitive markets foster efficiency and greater use of renewable energy, helping to address our global energy and environmental challenges.
“I’ve long believed that competition is in the best of interest of consumers. Competitive electricity markets offer customers more choice and, ultimately, greater control to lower their energy bills, encourage innovation like smart meters and demand response, receive reliable power service, and provide environmental as well as economic value to consumers. I am pleased that the findings of the ABACCUS report reached the same conclusion.”
Click here to read the full report.
Joel Malina | December 7, 2009
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[...] part. Across the country, new energy infrastructure investments, and the job they create, are benefiting states that have opened their markets to [...]
[...] study. In addition, the 2009 Annual Baseline Assessment of Choice in Canada and the United States (ABACCUS) report gave Texas its highest-possible ranking, finding that Texans enjoy a wide array of competitive [...]
[...] http://www.competecoalition.com/blog/2009/12/energy-retailer-research-co...... [...]
Texas is Number One in Electricity
This reveals that for the third year in a row, Texas has been rated number one in residential electricity competition and number one for the second year in a row in commercial energy competition. Competition works!
Lone Star State consumers have benefited from a competitive electricity marketplace. We have good news in Texas, and it is not result of a top-down regulatory regime, but of allowing the free market to work. Consumers like choices and have taken advantage of those opportunities in selecting their electricity providers.
Texas leads the nation in wind turbine capacity and wind energy production. States which have vibrant energy markets have experienced rapid growth in renewable generation.
We Texans like to brag. Thanks for the opportunity to add another notch to our cowboy belt. The Texas Legislature opened the electricity marketplace and consumers have responded.
Most consumers have 130 different offers and four out of five consumers have exercised their ability to choose. Consumers are the beneficiaries of a vibrant electricity marketplace, according to the new study.
Unfortunately, not all consumers have the opportunity to choose their provider. Those of us in municipally-owned utility regions and those in co-ops can’t choose other providers until the cities and co-op boards elect to allow competition. And that could be a freezing cold August day in Texas before that happens. The legislature needs to step in and eliminate that "protection" and better protect consumers, not taxing entities.
We are proud that the Lone Star State has been ranked first in residential and commercial electricity restructuring and benefits derived to residential and commercial consumers.
Consumer choice has helped provide lower prices and more alternatives for consumers in every state which has embraced free market competition.
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