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In response to a recent article on electricity rates that was widely circulated, David Fein, president of the Retail Energy Supply Association, published a letter to touch on a few points the previous article failed to address.
His letter, published in the Peoria Journal Star, stated that the earlier article did well to inform readers of the relationship between lower gas prices and higher electricity rates, but that it did not put enough focus on the role that energy deregulation has had in keeping those rates from spiraling out of control.
Fein stated that in Illinois, where the electric energy segment of a customer's bill is determined by competition, this has resulted in much lower rates than residents would have otherwise paid.
"This choice gives consumers control over their energy costs and an opportunity to obtain better value and innovative products and services from competing retail suppliers," Fein wrote in the Journal Star.
In his conclusion, Fein pointed out that it is true that several factors make up the final price of electricity rates, however, in states without energy deregulation laws, these rates are rising faster than those that have passed such legislation.