Why Are “Retail Choice” Electricity Markets More Expensive?
The post Why Are “Retail Choice” Electricity Markets More Expensive? appeared on BitcoinEthereumNews.com. CEDAR CREEK, TEXAS – the Bastrop Energy Center Power Plant is seen on December 30, 2024 in Cedar Creek, Texas. (Photo by Brandon Bell/Getty Images) Getty Images Deregulation for American electricity markets was supposed to usher in cheap electricity for consumers. It has not. Far and away, utility customers in regulated electricity markets are paying less for power. The most recent tally for 2024 shows overcharges ranging up to $480 per residential account. In aggregate, Americans in retail choice markets paid almost $4 billion in overcharges to receive the same electrons that everyone else receives. In “Caveat Emptor: America’s $48 Billion Competitive Retail Electricity Bust,” author Laurel Peltier, using data from the U.S. Energy Information Administration, shows cost differentials in service areas where consumers can choose to buy from a chosen retailer or from the incumbent, pr