Florida industry could save nearly 25 percent on electricity in a competitively restructured market.
Florida could help its industrial sector take off by opening its electricity market to choice and competition. Check out the data below to see what restructuring could do for Florida industry.
Restructuring will lower prices for Florida’s industries.
In Texas, America’s most competitively restructured electricity market, industrial electricity prices are nearly 25 percent lower than comparable electricity prices in Florida. In Illinois, another competitively restructured electricity market, savings are almost as strong.
Florida prices are well above the national average, leaving Florida industry behind. Florida spends nearly $25 billion on electricity every year, and more than a tenth of Florida's energy use goes to industry. Competition can reduce the cost of that share of Florida's electricity use, helping industry in the process.
This means monthly savings on industrial 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 industrial operations of all sizes. Texas is an especially strong market for industrial electricity prices.
This graph shows the savings a single industrial facility could see with one month of competitive electricity pricing, by applying the savings above to average Florida electricity bills.
The price of electricity for Florida industry is climbing.
Electricity prices may always climb, but they climb much slower in a competitive market. Texas electricity prices have remained consistent over the last decade.
At the same time, prices in markets nationwide have remained more consistent than prices in Florida, where industrial electricity costs are among the highest in the country 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 restructured for the better part of 20 years, prices are comparatively stable.
Electricity customers can supplement this stability with long-term fixed rate prices so that they can factor today's prices into tomorrow's budgeting.
Savvy shoppers can also find better prices in a restructured market.
Depending on how industry purchasers shop for electricity, prices in a restructured market can beat even the nearly 25 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 Florida industries are free to choose their own electricity providers, those industries can put serious money toward bigger operations and better profits.
Take the next step toward energy freedom.
Join us in building a competitive electricity market in Florida -- contact us today.