Dale Bumpers: “I rise to day to introduce the Transition to Electric Competition Act of 1997 along with my colleague from the State of…”

“I rise to day to introduce the Transition to Electric Competition Act of 1997 along with my colleague from the State of Washington, Senator Gorton. This bill provides for the transition toward deregulation and competition in the electric utility industry. While few people find a discussion of the electric utility industry and the many laws and regulations governing the industry exciting, the fact is that electricity is an extremely important commodity which affects everyone on a daily basis. Any event that increases or reduces electric rates can impact: First, the lives of the poor and those on fixed incomes that depend on electricity to heat their homes in the winter and cool them in the summer; second, the price of goods we buy every day; as well as third, the competitiveness of our factories. In addition, decisions made by electric generators often have a direct effect on our environment as well as our energy security. It is not at all inconsequential that the electric utility industry, which has remained relatively static for the last 60 years, is undergoing a fundamental change.”