Consumers urge Governor Holcomb to embrace electricity transmission competition and free markets.

WASHINGTON – The Electricity Transmission Competition Coalition called on Governor Eric Holcomb to put consumers first and veto HB 1420, which will significantly raise the price of electricity for Hoosiers. Indiana consumers have seen their electricity transmission costs soar by an average of 63% over the last five years[1] far more than other states – HB 1420 will see those rate hikes accelerate for decades to come. HB 1420 is a right of first refusal law (ROFR), which have been shown to raise rates on consumers because they eliminate competition for new transmission lines and removes the incentive for the monopoly utilities to reduce costs.[2] For utilities, the more they spend the more profit they make.

In a statement, Paul Cicio, Chair of the Electricity Transmission Competition Coalition, said: “The Indiana House and Senate failed to stand up for consumer interests, Governor Holcomb must put consumers first and veto this bill. The bill is anti-competitive, anti-free market, anti-consumer and will send electricity costs soaring in Indiana.”

ROFR laws are being rejected across the country by legislators because they hurt consumers. Also, the Iowa Supreme Court struck down a similar law stating that ROFR laws are “quintessentially crony capitalism” and that “the ROFR will impose higher costs.”

###

About the Electricity Transmission Competition Coalition

The Electricity Transmission Competition Coalition (ETCC) is a broad-based, nation-wide coalition committed to increasing competition in America’s electricity transmission infrastructure. We advocate for common-sense policies and solutions that result in competitively priced transmission projects, which reduce energy costs for all ratepayers – from large manufacturers to residential consumers. The ETCC represents a diverse group of more than 80 companies and organizations from all 50 states, including manufacturing groups, retail electric consumers, state consumer advocates, public power representatives, think tanks, and non-incumbent transmission developers.

For more information, visit: www.electricitytransmissioncompetitioncoalition.org.

Press Contact:
Julian Graham
jgraham@signaldc.com

###

[1] MISO Energy: Transmission Settlements and Pricing, https://www.misoenergy.org/markets-and-operations/settlements/ts-pricing/#t=10&p=0&s=&sd=

[2] Brattle Group: Cost Savings Offered by Competition in Electric Transmission, https://www.brattle.com/wp-content/uploads/2021/05/16726_cost_savings_offered_by_competition_in_electric_transmission.pdf