COMPETE Hails Defeat of Proposition 80

COMPETE, the national coalition promoting the public interest benefits of competitive electricity markets, praised yesterday’s resounding defeat of Proposition 80 on California’s Special Election ballot.

“California voters have spoken and the message is loud and clear: the state’s electricity markets are on the right track and must be allowed to continue their forward progress,” said former U.S. Senator Don Nickles, COMPETE’s chairman.

Proposition 80, which was defeated by a 31+ point margin (34.3% - 65.7%, with 99.5% of precincts reporting), would have limited both the ability of electricity consumers to switch from utilities to other providers and the flexibility of the California Public Utility Commission to adapt to changing market conditions.

“Proposition 80 was a backward looking proposal,” Senator Nickles added. “By rejecting it, the people of California can continue to look to the future with the knowledge that state policymakers will have the flexibility to pursue pro-competitive policies; policies that can deliver lowest available cost electricity, increased investment in renewable generation as well as other reliability, energy efficiency, environmental and economic benefits that go along with well-structured electricity markets,” Senator Nickles said.

ATTENTION ASSIGNMENT EDITORS:

MEDIA ADVISORY: 11/15/05 News Conference

COMPETE, in association with the Alliance for Retail Choice (ARC) and the Electric Power Supply Association (EPSA), will hold a news conference on Tuesday, November 15th at 11:00am in the Lobby Court of the Renaissance Esmeralda Resort near Palm Springs, CA, the site of the NARUC annual meeting.

News conference participants will include large retail customers of electricity who that day will release a joint filing to the Electric Energy Market Competition (EEMC) Task Force, established by The Energy Policy Act of 2005 to study and report back to Congress on wholesale and retail electricity competition. COMPETE, ARC and EPSA will also release a joint filing to the Task Force on Tuesday. News conference participants will be available to discuss the impact of last week’s Proposition 80 vote on California and the nation.

WHEN: Next Tuesday, November 15th
TIME: 11:00 a.m. PST (lunch to follow)
WHERE: Lobby Court, Renaissance Esmeralda Resort, near Palm Springs, CA
ADDRESS: 44-400 Indian Wells Lane, Indian Wells, CA