Lisa Murkowski: “I am today introducing its proposed electric power industry legislation, the ``Comprehensive Electric Competition Act.''…”

“I am today introducing its proposed electric power industry legislation, the ``Comprehensive Electric Competition Act.'' I do so not because I agree with all of the provisions of the Administration's legislation: I don't. I do so as a courtesy to the Administration and because I strongly support competition. Mr. President, let me first say that I am a strong proponent of increased competition in the electric power industry. For the past century our electric utilities--investor-owned, municipally-owned, cooperatively-owned--have served this Nation well. Particularly as compared to the rest of the world, we have reasonably-priced, extremely reliable and nearly universal electric service. But with some well thought-out changes, our electric power industry can do even better. We have seen in a number of other industries--oil, natural gas, trucking and airlines, to name but a few--deregulation has greatly benefitted consumers. Market-based competition has reduced prices, increased supply and sparked innovation. There is no reason why increased competition in the electric power industry would not similarly benefit consumers, the economy and our international competitiveness.”