FOR IMMEDIATE RELEASE
June 23, 2022
Consumers Urge Congress to Fight Electricity Price Inflation by Supporting Electricity Transmission Competition in FERC Transmission NOPR
WASHINGTON – The Electricity Transmission Competition Coalition (ETCC), which represents 78 diverse consumer organizations, sent letters to the Chairman and Ranking Members of the Senate Committee on Finance, calling on them to embrace electricity transmission competition as electricity price inflation continues to outpace the Consumer Price Index. Competition has been shown to reduce costs by up to 40 percent and increase innovation.
Paul Cicio, Chairman of the Electricity Transmission Competition Coalition, released the following statement.
“As we build out the grid, all electricity transmission projects that are 100 kV or larger should be competitively bid to reduce costs to ratepayers. Every industry has competition except electricity where incumbent monopolies prevent competition. Hundreds of billions in savings are at stake. Competition is a proven anti-inflation policy. Nationwide, transmission costs have increased $75 billion, or 79 percent in six years, while demand has been flat.”
“As of May 2022, electricity price inflation for the last year was 12 percent, outpacing the Consumer Price Index, which is already at 40-year highs. Inflation in electricity is putting further pressure on households and businesses already grappling with financial uncertainty.”
In April, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) on Transmission Planning that allows the incumbent monopoly utilities to avoid competition and gold-plate transmission projects – instead of embracing electricity transmission competition to reduce costs to consumers. The letter encourages Senators to weigh-in at FERC to defend consumers and reduce inflation.
You can read the full Senate letters here and here.
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 70 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.