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Competitive Power, Affordable Rates
New Report Finds electricity choice program expansion could save Michigan ratepayers millions
A recently released Mackinac Center report finds that Michigan lawmakers should give more residents, businesses and institutions the option to choose who supplies their electricity before utilities spend billions on new energy projects and raise customer rates.
The report estimates that raising participation cap from 10% to 30% could reduce utility spending as much as $8 billion. That could save customers millions of dollars by reducing the need to fund unnecessary utility projects through higher electricity rates. More than 5,100 customers are waiting to participate in the existing program.
The new report, “Competitive Power, Affordable Rates,” finds that DTE Energy and Consumers Energy plan to build nearly 30 gigawatts of new generation, storage and other energy resources over the next two decades, at an estimated cost of $39 billion. Under the current model, those costs would be paid in part by raising electricity rates for customers.
