FOR IMMEDIATE RELEASE
August 02, 2022
ETCC Urges Secretary Granholm to Support Electricity Transmission Competition to Fight Inflation
WASHINGTON – The Electricity Transmission Competition Coalition (ETCC), which represents 75 companies and organizations, has sent a letter to Secretary of Energy Jennifer Granholm urging her to support electricity transmission competition to fight inflation. In addition to the Inflation Reduction Act, the Federal Energy Regulatory Commission (FERC) has an opportunity to reduce electricity price inflation and ease the burden on consumers.
“The Inflation Reduction Act is estimated to reduce the deficit by $300 billion to help fight inflation. The Biden administration could go even further and save taxpayers over $800 billion in spending by 2050 by embracing electricity transmission competition.” said Paul Cicio, Chair of the ETCC in the letter. “Research by The Brattle Group has shown that competition can reduce the cost of transmission projects by as much as 40 percent.”
He added “Transmission spending is a critical part of President Biden’s plan to decarbonize the economy and competition will be a key factor in decarbonizing the economy without stoking inflation.” To meet the administration’s net-zero emissions target, it is estimated that the US will require $2.1 trillion in transmission spending by 2050. Electricity transmission competition could save ratepayers over $800 billion.
You can read the full letter 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.