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RESA Says Latest Data Shows Customers In Monopoly States Could Have Saved $703 Billion Since 2008 Under Electric Choice
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The Retail Energy Supply Association (RESA) released its 2023 energy trend report based on the latest U.S. Energy Information Administration (EIA) data which RESA said shows that, since 2008, the average power price for all electric customers (residential, commercial, and industrial) in competitive, electric choice states increased by 11.5%, compared to what RESA termed a "significantly higher" increase of 43.6% for all customers living in monopoly states.
RESA said that the latest EIA data shows that customers in monopoly states may have saved more than $703 billion over the last 15 years if their price trajectory had mirrored that of competitive states.
By customer class, RESA said that these unrealized cost savings, due to the lack of customer choice in monopoly states, include $230.6 billion for residential customers, $291.4 billion for commercial customers, and $172.2 billion for industrial customers.
RESA said that, in contrast, consumers in the 14 electric choice states and jurisdictions saved an estimated $480 billion from 2008 through 2023 under competition, compared to the monopoly states' pricing trends.
More details from RESA's report are here
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December 10, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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