COMPETE Coalition Praises PUCO Action To Preserve, Expand Electricity Competition in Ohio

November 22, 2011

The COMPETE Coalition today applauded the Public Utilities Commission of Ohio (PUCO) for accepting a settlement in the Duke Energy Ohio electric security plan proceeding, offering a clear sign of continued reliance on the competitive market model as the best means to meet the needs of Ohio’s electricity customers.

The settlement helps sustain and builds upon what is already a robust electricity marketplace in Duke Energy Ohio’s service territory, where competitive suppliers now provide more than two-thirds of the total electricity used.

“Today’s action by the PUCO will help ensure that the benefits of competition enjoyed by hundreds of thousands of Ohio electricity customers in recent years not only continue, but are expanded,” said former U.S. Senator and COMPETE co-chairman Don Nickles. “The settlement with Duke Energy Ohio ultimately will support Ohio’s economic growth and job creation goals.”

The PUCO’s action today allows the new rate plan to take effect January 1, 2012, and remain in effect through May 31, 2015.  Important aspects of the settlement will lead to further development of the competitive retail and wholesale electricity markets in Ohio for the benefit of Duke Energy Ohio customers.

“The PUCO’s order will support innovation and investment that creates much-needed jobs in Ohio,” said Nickles. “This makes the state more attractive to businesses seeking to grow and improves Ohio’s economic competitiveness.”

The COMPETE Coalition actively supports state and federal energy policy decisions with a long-term focus on how to best foster innovation and investment to meet the needs of electricity customers.  This is best accomplished with competition that breaks down monopoly barriers to new market entrants bringing innovation in technology and service.