Electric Deregulation Is Working In Texas
October 15, 2009
Electric Deregulation Is Working In Texas
The post begins, "Oncor CEO Bob Shapard`s Statement on Electric Deregulation
Thu Oct 15, 2009 2:42pm EDT
DALLAS (Business Wire)
"I was recently asked my opinion of Texas electric deregulation. While the
dramatic rise in natural gas prices combined with an immature deregulated market
didn`t benefit consumer prices in the short run, the full story is that
deregulation now and in the long run benefits consumers.
"Today I believe consumers are savings billions of dollars because of
deregulation. Significant additional generating capacity, including the nations
leading wind energy program, has been added in Texas as a result of
deregulation. That capacity, which replaced older less efficient capacity, has
saved consumers billions of dollars and been environmentally positive for the
state. Additionally, deregulation has given consumers a wide array of retailer
and product options and will facilitate consumers taking more control of their
energy costs.
"Consumers have hundreds of choices to make for the electricity that power their
homes. I was recently at conferences outside of Texas where I outlined the
numerous choices available to consumers, including 100 percent wind power
products that are available for less than what some consumers are paying in
other states. My peers were shocked that Texans had those opportunities that
their customers do not have today, and probably won`t have for years to come. In
fact, many electricity product prices in Texas today are lower than when
deregulation began. If a customer is paying more, all they have to do is fire
their provider, spend 5 minutes on www.powertochoose.org or call 866-797-4839
and find a better price.
"In the long-run, deregulation - even with the short-run challenges we had - is
the best decision Texas could have made."
Oncor Electric Delivery Company LLC ("Oncor") is a regulated electricity
distribution and transmission business that uses superior asset management
skills to provide reliable electricity delivery to consumers. Oncor operates the
largest distribution and transmission system in Texas, delivering power to
approximately 3 million homes and businesses and operating approximately 117,000
miles of transmission and distribution lines in Texas. While Oncor is owned by a
limited number of investors (including majority owner, Energy Future Holdings
Corp.), Oncor is managed by its Board of Directors, which is comprised of a
majority of independent directors.
Oncor
Chris Schein, 972-791-6200
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