The recent spike in gas prices has once again focused attention on America’s dependence on overseas sources of oil, particularly from OPEC.

Do you remember choosing your power company? Probably not, because you had no say in the matter. Unfortunately, when it comes to electricity, there is no customer choice—your only option is the local government approved and protected monopoly. In other industries, competition keeps prices low and service reliable. But electric power is the last major industry where there is no competition, and because of that, many customers pay too much. Facing high costs and poor service, what can consumers do—live without power?

(WASHINGTON) – Today, Wayne Brough, Ph.D., Chief Economist at Citizens for a Sound Economy (CSE) Foundation, and Michael T. Maloney, Ph.D., Professor of Economics at Clemson University, released a new study on electricity deregulation.

In May 1996, Citizens for a Sound Economy Foundation released a study entitled, Customer Choice, Consumer Value: An Analysis of Retail Competition in America's Electric Industry. The study was conducted by Professors Michael Maloney and Robert McCormick with Raymond Sauer, all of whom are from Clemson University. Their findings suggest that opening the market for electricity will save consumers billions of dollars while providing a substantial stimulus for the economy as a whole.