14 July 2005 – US electricity consumers saved over $15bn between 1999 and 2003 due to wholesale electric market competition, according to a new study.
The study, ‘Putting Competitive Power Markets to the Test’, authored by the independent consulting firm Global Energy Decisions, compared current prices with those that would have existed under the old regulated utility environment without competition.
According to the report, competition has also improved utility operations and efficiencies and has also provided significant production cost savings for Eastern states wholesale power customers due to the formation and expansion of Regional Transmission Organizations.
Compete, a US coalition promoting the public interest benefits of competitive electricity markets, welcomed the release. The group’s chairman, former US senator, Don Nickles, said: “This study brings home the message that competition in electricity markets continues to be good for America and for the American consumer.”