Florida's business and retail community could save almost 20 percent on electricity in a restructured market.
Electricity restructuring is the ultimate statewide reform – there is nothing Florida could do to help more businesses save more money more easily than to open its electricity market to choice and competition.
Restructuring will lower prices for Florida’s commercial retailers.
In Texas, America’s most competitively restructured electricity market, commercial electricity prices are nearly 20 percent lower than comparable electricity prices in Florida.
Florida spends nearly $25 billion on electricity every year. At the nearly 20 percent savings that Texas sees over Florida thanks to electricity restructuring, Florida could save about $5 billion on its electricity prices in a restructured market – every year.
This means monthly savings on commercial electric bills.
Restructuring the Florida electricity market to work like the competitive markets in Texas and Illinois could save thousands of dollars each month for retailers. Texas is an especially strong market for commercial electricity prices.
This graph shows the savings a single supermarket could see with one month of competitive electricity pricing, by applying the savings above to average Florida bills.
The price of electricity for Florida's commercial retailers is climbing.
Electricity prices have a habit of climbing, but they climb much slower in a competitive market. Texas and Illinois electricity prices have been reliable since 1994.
At the same time, prices in markets nationwide have remained more consistent than prices in Florida, where commercial electricity costs are higher than in these competitive markets for 2014.
Electricity prices in a competitive market are consistent over time.
Electricity prices have risen substantially across America over the last decade, but in Texas and Illinois, where electricity markets have been competitively restructured for the better part of 20 years, prices are relatively stable.
Electricity customers in competitive markets can also supplement this stability with long-term fixed rate prices so that they can factor today's prices into tomorrow's budgeting.
Savvy shoppers can find better prices in a restructured market.
Depending on how retailers shop for electricity, prices in a restructured market can beat even the 20 percent difference from Florida prices today.
Put all of these averages against some of the best prices available on the Texas market, and it’s clear that where businesses and retailers are free to choose their own electricity provider, those retailers save real money.
Take the next step toward energy freedom.
Join us in building a competitive electricity market in Florida.