WASHINGTON –The Electricity Transmission Competition Coalition was disappointed in the decision by Governor Eric Holcomb to sign HB 1420, which will lead to higher electricity transmission rates in the state of Indiana. HB 1420 is a Right of First Refusal law, which have been shown to raise rates on consumers because they block competition and stymie innovation.

In a statement, Paul Cicio, Chair of the Electricity Transmission Competition Coalition, said: “The decision by Governor Holcomb to sign this anti-competitive, anti-consumer and inflationary legislation is regrettable. HB 1420 will hurt families and businesses with higher monthly utility bills.”

Once enacted and shielded from competition, incumbent monopoly utilities will have no reason to reduce or even contain costs and will pass higher transmission costs onto consumers. Over the last five years, transmission costs in Indiana have soared by an average of 63%[1] – HB 1420 will see those rate hikes accelerate for decades to come. Hoosiers have had to deal with the fourth highest increase in electricity prices in the country[2] – HB 1420 will make a bad problem worse. Electricity transmission competition has been shown to lower costs by as much as 40%.[3] Indiana needs an upgraded grid, and Hoosiers deserve affordable electricity and electricity transmission competition is the only way to deliver both.

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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] MISO Network Integration Transmission Service Charges: https://www.misoenergy.org/markets-and-operations/settlements/ts-pricing/#t=10&p=0&s=&sd=

[2] Sourced from U.S. Energy Information Administration Electric Power Monthly

[3] 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