National Energy Marketers Association urges against re-monopolizing California energy markets

WASHINGTON, May 7, 2003 — “California took a giant leap backwards today,” said Craig Goodman, President of the National Energy Marketers Association, with regard to the California Senate Energy Committee’s vote on SB 888 to re-monopolize its energy markets.

“SB 888 undermines California’s ‘Energy Plan’ and ongoing efforts to bring stability back into its energy market and destroys the value of investments made in reliance on prior law. The overwhelming costs of SB 888 to the California economy, its consumers, its utilities, its job and technology markets as well as California’s competitiveness for new capital formation could be devastating. Competition is working in other states and consumers are saving billions of dollars as a result. The ability to do business when you want, with whom you want, and then to buy what you want, is one of the greatest consumer protections government can offer,” said Goodman.

“SB 888 will isolate California from lower cost energy supplies, increase the costs and risks associated with its utilities’ new obligation to serve, eliminate all the savings and economic stimuli that results from its direct access program, reverse the progress made in advanced metering, information and efficiency technologies, undermine the progress made to repair the financial damages caused by the California energy crisis, and increase both the costs and risks associated with creating new businesses and jobs in the state of California,” added Goodman.

The National Energy Marketers Association (NEM) is a national, non-profit trade association representing wholesale and retail marketers of energy, and both energy and financial-related products, services, information and technologies throughout the United States, Canada and the U.K

For copies of NEM’s Opposition Letter to Chairwoman Bowen or NEM policy papers, contact NEM’s Washington, DC headquarters at (202) 333-3288 or its Web site at www.energymarketers.com.

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