Virginia Voters and Electricity Consumers Support Electricity Competition

February 13, 2007

Open Letter to the Virginia General Assembly

The electricity customers who have signed this letter strongly support the development of competitive electricity markets and encourage the Commonwealth of Virginia to maintain its commitment to policies which allow for the continued evolution and implementation of such markets, especially the Commonwealth’s competitive retail market.

We are aware that the General Assembly is considering legislation (SB 1416 and HB 3068) that would eliminate the ability of electricity consumers in the state to choose among retail electricity providers. We urge you not to pass such legislation, as it would have a long term, negative impact on Virginia’s electricity consumers. Rather, the General Assembly should promote policies which allow for the continued evolution and implementation of retail electricity markets in the state.

Our companies’ collective experiences reflect that competitive electricity markets allow our businesses to recognize substantial savings on electricity costs, which can in turn be converted to lower prices to customers, improved products and services, additional sales people, and more. Fostering policies which allow electricity users to manage their energy purchases in an efficient manner is critical to achieving such benefits.

Success at the retail level, where we operate, requires robust competition at the wholesale level. Therefore, we strongly support the Federal Energy Regulatory Commission’s restructuring policies and encourage Virginia to open all of its markets to competition for all customers instead of limiting participation to 5MW and above.

We also believe that regional competitive wholesale markets for electricity, with independent oversight, provide the greatest flexibility in responding to consumers’ needs. Competitive wholesale markets achieve this flexibility by providing access to generation at the lowest available cost; promoting transparency and reliability; enhancing the nation’s transmission infrastructure; and providing price signals that promote sound investment decisions regarding generation, transmission, demand response, and energy efficiency.

On behalf of our employees and the thousands of customers who would be negatively impacted by SB 1416 and HB 3068, we urge the legislature’s continued support for competitive markets and non-discriminatory access to transmission and power markets, greater transparency, independent oversight, and other pro- market policies that are in the best interests of consumers.

Sincerely,

Dr. Mark B. Morgan
Manager, Stores Engineering
7-Eleven, Inc.

W. Dustin Mirick
Utilities and Energy Resources
Best Buy Co., Inc.

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