Political Quotes

“I rise to introduce an electric deregulation bill, which it is my sincere hope will reduce the burdens on our electric ratepayers and consumers throughout this country by promoting competition and reliability in the electric power industry. First, let me say competition isn't the goal of the legislation. Instead, competition is the means to achieve the goal of assuring customers reliable and reasonably-priced electricity. We have seen the benefits of competition in other industries such as natural gas, telecommunications, trucking, and even in the airlines. In each case, competition reduced prices. That was the objective--to enhance supply and to encourage innovation. There is every reason to expect that competition in the electric industry will benefit consumers. The Department of Energy agrees. It is projecting consumer savings in the area of $20 billion per year. That is not hay. That would be a significant savings to the consumers in this country, particularly important at a time when we are seeing spiking rates in oil, high gasoline prices, high heating oil prices, and high diesel fuel prices, as noted by the trucking industry that recently demonstrated here in Washington, DC. Heating oil prices are spiraling in the Northeast corridor. We are talking about, through electric deregulation, trying to bring about consumer savings of $20 billion per year or more.”