Consumers Urge FERC to Change Transmission NOPR to Ensure that All FERC Jurisdictional Transmission Projects are Competitively Bid to Lower Electricity Costs and Inflation for Household and Businesses.

WASHINGTON – Inflation data released by the U.S. Bureau of Labor Statistics showed electricity inflation’s long-term price mark continuing to exceed overall inflation even as the Consumer Price Index slows. These continued increases in the price of electricity have burdened consumers with higher monthly utility bills. The May CPI measured annualized electricity services inflation at 5.9%, in contrast to overall CPI of 4.0%. Only food inflation exceeds that of electricity. Other products and services of the CPI saw declines.

In a statement, Paul Cicio, Chair of the Electricity Transmission Competition Coalition, said: “FERC is failing to fulfill its mandate and deliver reliable and affordable electricity to consumers. Transmission competition is the only way to lower costs and bring the price of electricity down across the country. Failing to act and back transmission competition is nothing short of abdication of responsibility.”

Additional data from the Energy Information Administration showed that residential electricity prices increased by 5% last year as residential spending on electricity increased to record levels.[1] Competitively bid electricity transmission projects have been shown to reduce costs to consumers by up to 40% according to The Brattle Group.[2] The U.S. will need to spend $2.1 trillion on transmission to reach its net-zero goals by 2050 according to Princeton University which means that electricity transmission competition could save as much as $840 billion for Americans.[3]

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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

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[1] U.S. Energy Information Administration, U.S. residential electricity bills increased 5% in 2022, after adjusting for inflation, https://www.eia.gov/todayinenergy/detail.php?id=56660&src=email

[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

[3] NET-ZERO AMERICA: Potential Pathways, Infrastructure, and Impacts, Princeton University, https://netzeroamerica.princeton.edu/?explorer=year&state=national&table=2020&limit=200