Market-based energy production is America’s best shot at sustained economic growth RSS Feed

Market-based energy production is America’s best shot at sustained economic growth

Pennsylvania’s continued commitment to competitive energy markets drives billions of dollars in investments for new energy technologies and cleaner-burning, more-efficient natural gas electric generation. This creates thousands of jobs and injects billions of dollars into the state economy.

Consumers benefit from deregulated electric choice and competition continues to keep Pennsylvania energy prices below the national average. While we often struggle to attract new businesses, access to markets and the advantage of lower energy prices keep Pennsylvania competitive.

U.S. Secretary of Energy Rick Perry disregards these benefits. He recently said that the federal government is looking to decimate the free electricity market, including in Pennsylvania.

Perry’s public thoughts on “fuel security” and “grid resiliency” distort the facts and glaringly omit the economic consequences for consumers.

The negative impact the order to the Federal Energy Regulatory Commission (FERC) to bail out nuclear and coal power generators should be downright frightening to every Pennsylvania citizen and employer.

Pennsylvania’s nuclear power generators conveniently forget how good deregulation was for their industry.

A recent Daymark Energy Advisors study showed the state’s nuclear industry earned significantly more than forecasted over the past 20 years after Pennsylvania electric customers paid nearly $9 billion since the late 1990s to help the industry transition to competitive energy markets.

Yet the federal government is poised to pick our pockets again to bail out a handful of profitable corporations.

Read full article at Penn Live