TEPA Reaffirms Support, Underscores Advantages of Competitive Energy Markets
HOUSTON – April 13, 2021 – The Energy Professionals Association (TEPA), a national organization of energy professionals, reaffirmed its support of competitive energy markets and highlighted the advantages they offer residential and commercial customers. TEPA strives to uphold the integrity of retail energy markets and members work in the best interest of the end user through education, advocacy, professional development and an Energy Management Professional (EMP) certification program.
According to data for 2019 published by the U.S. Energy Information Administration (EIA), the U.S. average retail price per kilowatt hour was 10.54 cents. In Texas, which is generally considered the most successful restructured electricity market, the average retail price was 8.60 cents/kWh. In addition to lower rates, competitive energy markets reward innovation through the development and adoption of new technology. Products like Demand Response and smart meter technologies have been introduced to reduce the stress on an electric grid during peak usage. Competitive markets have led the way in renewable energy development including wind, solar and battery storage.
“Competition has delivered clear advantages and enormous benefits over traditional, regulated energy markets,” said Javier Barrios, TEPA Board President and Managing Partner at Good Energy. “Over time, retail competition produces the most efficient results, giving residential and commercial customers the chance to access lower energy costs by exercising their choice to build their own energy plan. Elected leaders at the local level also champion competition to create greater transparency and improved market pricing for their communities. The TEPA board reaffirms our support and acknowledges the advantages that competitive energy markets offer across the country.”
Another advantage of a competitive energy market is the opportunity to participate in community choice aggregation programs, which allow businesses and residents to pool their buying power to negotiate better energy rates. Community choice aggregations offer more options and innovative products to consumers.
“While competitive energy markets continue to offer lower prices than regulated market rates, we recognize that there are always opportunities for improvement,” said Shannon McGriff, TEPA Executive Director. “TEPA is committed to working with our members, retail electric providers, and policy makers to ensure competitive energy markets provide robust competitive choices for all consumers. We believe product and price simplicity will be particularly helpful for residential customers. We look forward to continuing to help build and improve competitive markets that benefit the consumer.”
About The Energy Professionals Association
Established in 2005, The Energy Professionals Association (TEPA) is a not-for-profit organization of professionals dedicated to advancing competitive energy markets across the country. TEPA is a membership-based association that provides professional development, advocacy, certification program, and access to a network of respected industry leaders. TEPA has more than 150 member organizations, which represent over 10,000 energy professionals including Aggregators, Brokers and/or Consultant, Retail Energy Providers and Affiliate members who offer products, technology or services that support the competitive energy industry. Learn more at www.tepausa.org.