Arguments for competitive markets

The Summer Magazine for Governing has a fascinating piece arguing for competitive electric markets. As it relates to Texas, it says:

“Competitive suppliers provide more options at lower cost, while shouldering risk. By contrast, monopoly utilities socialize risk on captive ratepayers. Disturbingly, utilities are pushing legislation to re-monopolize competitive states including Ohio and Pennsylvania.

Texas stands as the most growth-ready, thanks to streamlined project approvals and the most competitive electricity market. Texas opted to isolate its grid from other states, which has the benefit of avoiding federal regulation but the disadvantage of leaving the state vulnerable to reliability threats from severe weather.”