Free markets have saved $15 billion since 2011

The EPO participated in a study largely funded by NOPEC and performed by the Cleveland State University’s Maxine Goodman Levin College of Urban Affairs and Ohio State University’s John Glenn College of Public Affairs that proves deregulation works in Ohio. The study confirmed that the predicted economical effect of deregulating electricity in Ohio has been successful. Between 2011 and 2015, $15 billion dollars was saved on electricity by retail customers.  Additionally, another $15 billion is expected to be saved between today and 2020.

The report credits deregulation as the driving force for cheap electricity. Deregulation has allowed consumers to shop and compare prices, creating a competitive market and decreasing prices, causing $3 billion a year in savings. Chuck Keiper, NOPEC’s executive director said, “The study will illustrate, with hard facts and numbers, that deregulation is the driving force behind the relatively low cost of electricity in Ohio.” This study is consistent with others that have found similar, positive results about deregulating electricity.

An executive summary of the study can be found here.