Competitive Electricity Markets Foster Energy Efficiency, Renewable Energy Development and Job Creation

Customer choice is thriving in many U.S. states and Canadian provinces because well-structured electricity markets foster the introduction of numerous product offerings and services that were not available in traditional electric markets, according to a new report issued today. The Annual Baseline Assessment of Choice in Canada and the United States (ABACCUS) was prepared by the Energy Retailer Research Consortium, an independent research consortium that supports retail energy choice.

Following is a statement in response to the report’s findings issued today by the Honorable Federico Peña, former U.S. Secretary of Energy (1997-1998) and U.S. Secretary of Transportation (1993-1997).  Secretary Peña currently serves as co-chairman of the COMPETE Coalition, which represents nearly 400 electricity customers, innovative service and technology providers, generators, transmission owners, and myriad other interests – all of whom support well-structured, competitive electricity markets for the benefit of consumers.

“The ABACCUS report highlights the success of competitive electricity markets in delivering economic and environmental benefits to consumers.  Where competition thrives, we’ve witnessed unparalleled innovation, reliability, infrastructure investment, and choice.   By freeing consumers from being captive to monopoly providers, competitive markets foster efficiency and greater use of renewable energy, helping to address our global energy and environmental challenges.  

“I’ve long believed that competition is in the best of interest of consumers.  Competitive electricity markets offer customers more choice and, ultimately, greater control to lower their energy bills, encourage innovation like smart meters and demand response, receive reliable power service, and provide environmental as well as economic value to consumers.  I am pleased that the findings of the ABACCUS report reached the same conclusion.”

To view the full report, please visit www.defgllc.com.