Can Competition Remake the Electricity Industry?

Can Competition Remake the Electricity Industry?

Travis Fisher and Nick Loris wrote in RealClearEnergy about electricity market competition.

“Creativity and competition are at the heart of dynamic economies. Thanks to modern reforms in industries previously regulated as natural monopolies, American consumers have reaped huge savings. Our lives are better today because of the successes of restructured industries as diverse as telecommunications, rail and airline transportation, and—to some extent—electric utilities. 

So why is electricity the ex-monopoly in which consumer prices constantly go up while measures of quality (like reliability) are flat or declining, no matter how much competition we throw at it? As consumer groups have pointed out, we still don’t have definitive answers to this question, and we should keep digging. In our view, competition hasn’t delivered benefits to electricity consumers because we haven’t really given it a chance.

Read the full article on RealClearEnergy.

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