Competitive electricity markets are well-structured with effective oversight, and deliver economic and environmental benefits to consumers. These markets have been restructured to promote competition among energy market participants, while maintaining strict regulatory oversight. Competition in these markets fosters innovation, clean energy solutions, green jobs, and affordable energy.
In competitive markets, power suppliers compete against each other to provide the best possible service at the lowest cost in order to attract and retain customers. Comparatively, in monopoly-regulated states, incumbent power providers have no incentive to innovate or lower costs because ratepayers are captive to their monopoly-protected supplier.
Today, more than two-thirds of the nation’s electricity consumers live or do business in states that are part of organized competitive wholesale and retail electricity markets.