Competitive electricity markets unlock the innovative solutions required to meet America’s energy needs and environmental objectives, said experts at a COMPETE Coalition panel discussion event. Unless markets are opened up to competition, the nation’s energy system cannot reach its full potential.
Competitive markets promote competition among power suppliers to deliver the best possible service to attract and retain customers. Comparatively, in monopoly-protected states, incumbent power providers have no incentive to innovate because ratepayers are captive to their monopoly utility and power suppliers are guaranteed recovery of their costs plus a profit.