The Retail Energy Supply Association (RESA) released its 2021 data report based on the latest figures collected by the U.S. Energy Information Administration (EIA).
“In 2021, EIA data shows that customers in monopoly states experienced cost increases of 28.5% more than their counterparts in the competitive states/jurisdictions compared to what they paid in 2008. During this time period, customers in the monopoly states could have saved more than $560 billion if they had experienced the same price trajectory as the competitive states/jurisdictions. By major customer class, these unrealized savings in the monopoly states would have cumulatively been $189.4 billion for residential customers, $230.1 billion for commercial customers and $138.2 billion for industrial customers. Meanwhile, the 14 competitive states/jurisdictions saved an estimated $382 billion during this time period compared to the monopoly states’ price trajectory. These data points highlight the impact of cost savings that competitive power markets have realized,” RESA said