Trying to bolster support for the electric deregulation bill, HB 5184, proponents have been touting a report issued by several Illinois business groups that claims Illinois electric consumers have saved $37 billion because of electric deregulation.
Reality paints a very different picture, however.
The report, Electricity & Natural Gas Customer Choice in Illinois, leaves out some crucial facts about Illinois’s experience with electric deregulation—and the failure of similar schemes across the country. Consider these facts:
Lessons from Other Deregulated States
While clearing up the misinformation in this report is important, it’s just as critical that we continue to learn from other states that have attempted electric deregulation.
More than a dozen states have attempted to deregulate their electricity market-most with unsuccessful results, especially for consumers. Deregulation has not lowered rates in deregulated states; in fact, they remain 25% higher on average than rates in regulated states. Additionally, like Illinois, many deregulated states are struggling with reliability challenges. Perhaps that’s why many of them have actually gone on to try to reverse their deregulation experiments.
Is this really the future Michigan deserves?
If you haven’t already, take a minute today to urge your legislator to oppose HB 5184 to help us secure a brighter future for all Michiganders.