Washington D.C.

Washington, D.C., May 16, 2005 COMPETE, a national coalition promoting the public interest benefits of competitive electricity markets, today praised 11 of the nation’s largest retailers and commercial property owners for their strong endorsement of state and federal policies promoting competitive electricity markets.

COMPETE, the national coalition promoting the public interest benefits of competitive electricity markets, hailed today’s release of a new, independent study quantifying $34 billion in residential electric consumer savings from 1997-2004 stemming from the restructuring of the U.S. electricity market.

Former U.S. Senator and COMPETE Chairman Don Nickles today presented a pro-consumer vision of the future of competitive electricity markets, one built on innovation, efficiency, transparency and customer choice. “Competition has been the bedrock of our nation’s economic prosperity and stability for centuries and remains the backbone of the modern American economy,” Senator Nickles said. “Electricity competition powers technology, innovation and market efficiencies. It continues to benefit the environment and fuel economic growth.

COMPETE, the national coalition promoting the public interest benefits of competitive electricity markets, praised last week’s release of a New York Public Service Commission report detailing significant consumer savings stemming from electricity competition in the state.

In a June 26 ‘Open Letter to Policymakers’, the economists urge continued support for the development of competitive markets for electricity: “Among economists, it is almost universally accepted that well functioning competitive electricity markets yield the greatest benefits to consumers in terms of price, investment and innovation especially when regulated alternatives are no longer warranted.

Letter to Kelliher Echoes FERC Conference Testimony and Findings of New COMPETE Issue Brief

COMPETE, a national coalition promoting the public interest benefits of competitive electricity markets, today praised a group of national environmental groups and renewable energy advocates for highlighting the benefits that competitive wholesale electricity markets provide in bringing more renewable energy and demand response into the nation’s energy resource portfolio.

A new analysis published in the most recent issue of Public Utilities Fortnightly supports the conclusion that the price comparisons cited by electricity competition detractors as ‘evidence’ of the failure of electricity markets and restructuring are misleading and inaccurate.

The COMPETE Coalition today applauded Federal Energy Regulatory Commission (FERC) Chairman Joseph T. Kelliher and the commissioners for taking action to affirm the innovation, efficiency and non-discriminatory transmission access made possible by restructured, competitive electricity markets.

WASHINGTON, D.C. - William Massey, former FERC Commissioner and COMPETE Spokesman, today issued the following statement in response to important new studies released by the ISO-RTO Council examining the benefits of organized competitive electricity markets: