ABACCUS Report Finds Competition Thriving in Restructured Electricity Markets
Competitive electricity markets are driving innovation, stimulating new investment, and delivering customer choice across North America, concludes the 2010 Annual Baseline Assessment of Choice in Canada and the United States (ABACCUS). The annual study from Distributed Energy Financial Group finds customer choice thriving because well-structured electricity markets have introduced new products and services which are unavailable in monopoly utility markets.
ABACCUS finds many innovative products and services available to customers in these markets, including the ability to lock in prices for a year or more, indexed energy prices, clean energy generation, distributed power generation, greater reliability and the opportunity to participate in bulk power markets.
In addition, ABACCUS notes market forces created significant economic benefits in 2010. Consumers were better able to take advantage of lower overall fuel prices through competitive rate offerings, and energy efficiency and demand response programs continued to grow in many organized markets. These benefits not only enable consumers to reduce their electricity costs, but also lessen the need for new generation investment.
“The ABACCUS report highlights the ability of competitive electricity markets to successfully deliver economic and environmental benefits to consumers. Competition continues to create unparalleled technological innovations, stimulating investment in clean energy infrastructure, and increasing competitive electricity supply options," said Federico Pena, COMPETE Co-Chair and former U.S. Secretary of Energy.
“I am particularly pleased to see the ABACCUS findings highlight how commercial and industrial customers in numerous competitive retail electricity markets have access to robust competition. Additionally, ABACCUS assessed multiple states as ‘excellent’ or ‘good’ with respect to implementing residential retail choice," continued Pena. "These results echo a recent study sponsored by COMPETE which showed that, since 2000, the volume of electricity sales by competitive utility suppliers jumped from zero to 15 percent, and competitive suppliers are increasingly offering innovative products and services to consumers. In short, consumers win with competition.”
|ABACCUS 2010 Study.pdf||1 MB|
|ABACCUS 2010 Study Appendices.pdf||1.89 MB|