TEPA Reaffirms Support, Underscores Advantages of Competitive Energy Markets
April 13, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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The Energy Professionals Association (TEPA) today reaffirmed its support of competitive energy markets, "and highlighted the advantages they offer residential and commercial customers."
"According to data for 2019 published by the U.S. Energy Information Administration (EIA), the U.S. average retail price per kilowatt hour was 10.54 cents. In Texas, which is generally considered the most successful restructured electricity market, the average retail price was 8.60 cents/kWh," TEPA said
"In addition to lower rates, competitive energy markets reward innovation through the development and adoption of new technology. Products like Demand Response and smart meter technologies have been introduced to reduce the stress on an electric grid during peak usage. Competitive markets have led the way in renewable energy development including wind, solar and battery storage," TEPA said
"Competition has delivered clear advantages and enormous benefits over traditional, regulated energy markets," said Javier Barrios , TEPA Board President and Managing Partner at Good Energy. "Over time, retail competition produces the most efficient results, giving residential and commercial customers the chance to access lower energy costs by exercising their choice to build their own energy plan. Elected leaders at the local level also champion competition to create greater transparency and improved market pricing for their communities. The TEPA board reaffirms our support and acknowledges the advantages that competitive energy markets offer across the country."
A news release from TEPA stated that, "Another advantage of a competitive energy market is the opportunity to participate in community choice aggregation programs, which allow businesses and residents to pool their buying power to negotiate better energy rates. Community choice aggregations offer more options and innovative products to consumers."
"While competitive energy markets continue to offer lower prices than regulated market rates, we recognize that there are always opportunities for improvement," said Shannon McGriff , TEPA Executive Director. "TEPA is committed to working with our members, retail electric providers, and policy makers to ensure competitive energy markets provide robust competitive choices for all consumers. We believe product and price simplicity will be particularly helpful for residential customers. We look forward to continuing to help build and improve competitive markets that benefit the consumer."