Media Coverage Spotlights Value of Competitive Electricity Markets

Competitive markets in Maryland and Connecticut are yielding innovation, savings and environmental benefits, as demonstrated by media coverage compiled by Restructuring Today (subscription required).

In Maryland, the Baltimore Examiner spotlighted COMPETE member Clean Currents, a company providing over 5,000 homes and businesses with wind or solar power. The article detailed how customers are able to choose their energy supplier because of the competitive nature of Maryland’s electricity market.  By shopping for their power source and opting for programs offered by Clean Currents and other similar companies, customers can reduce their electric bills while becoming more environmentally conscious. With benefits like these, it’s no surprise recent polling showed Maryland consumers prefer competitive markets.

In Connecticut, the Hartford Business Journal featured an interview with Chris Kallaher, the New England Chairman of the Retail Energy Supply Association.  In response to efforts by some legislators to roll back competition and again embrace a monopoly market, Kallaher rightfully noted that these proposals would yield higher rates for customers and shift financial risks right back onto ratepayers. These unwanted effects have also been noted by State Representative Sean Williams.

One legislative measure, H.B. 5505, would create the Connecticut Electric Authority (CEA).  Said Kallaher: 

“The CEA would mean fewer and more expensive options for buying electricity for these customers. HB 5505 would seek to give the CEA many unfair advantages by restricting customers’ ability to shop for power and by shifting costs to other market participants or taxpayers, creating no net savings while exposing the state to potentially disastrous risks in the power markets.” 

Joel Malina | April 14, 2010