CEO Bob Shapard’s Statement on Electric Deregulation
DALLAS -
“I
was recently asked my opinion of Texas
electric deregulation.While the
dramatic rise in natural gas prices combined with an immature deregulated
market didn’t benefit consumer prices in the short run, the full story is that
deregulation now and in the long run benefits consumers.
“Today
I believe consumers are savings billions of dollars because of
deregulation.Significant additional
generating capacity, including the nations leading wind energy program, has
been added in Texas
as a result of deregulation. That capacity, which replaced older less efficient
capacity, has saved consumers billions of dollars and been environmentally
positive for the state.Additionally,
deregulation has given consumers a wide array of retailer and product options
and will facilitate consumers taking more control of their energy costs.
“Consumers have hundreds of choices to make
for the electricity that power their homes.I was recently at conferences outside of Texas where I outlined the numerous choices
available to consumers, including 100 percent wind power products that are
available for less than what some consumers are paying in other states.My peers were shocked that Texans had those
opportunities that their customers do not have today, and probably won’t have
for years to come.In fact, many
electricity product prices in Texas
today are lower than when deregulation began.If a customer is paying more, all they have to do is fire their
provider, spend 5 minutes on www.powertochoose.org
or call 866-797-4839 and find a better price.
“In
the long-run, deregulation – even with the short-run challenges we had – is the
best decision Texas
could have made.”
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Oncor Electric Delivery Company LLC (“Oncor”) is a
regulated electricity distribution and transmission business that uses superior
asset management skills to provide reliable electricity delivery to consumers.
Oncor operates the largest distribution and transmission system in Texas, delivering power to approximately 3 million homes
and businesses and operating approximately 117,000 miles of transmission and
distribution lines in Texas.
While Oncor is owned by a limited number of investors (including majority
owner, Energy Future Holdings Corp.), Oncor is managed by its Board of
Directors, which is comprised of a majority of independent directors.
