New York has made more progress in deregulating energy than all other states except Pennsylvania, a comprehensive new study of energy deregulation nationwide shows.
New York is outpacing all other states in deregulating energy, the new Retail Energy Deregulation (RED) Index 2000 said. The index was done by the Center for the Advancement of Energy Markets, an independent think tank that promotes the transition from monopoly to competition in energy.
"This belies claims by some that energy deregulation is moving too slowly in New York," said Business Council President Daniel B. Walsh. "In fact, this shows that deregulation is unfolding better and faster than in most other states."
The RED Index uses 18 differently weighted factors to measure progress in 50 states and the District of Columbia in transitioning from a state-controlled monopoly in energy to free-market competition. A score of zero represents the traditional state monopoly; 100 embodies the Index's ideal of a complete and effective move to competition.
New York scored 58, just behind Pennsylvania, which scored 59. The next highest score was 52. Five different states scored zero.
"Nearly every state has begun a process that considers dramatic changes to electric regulation to give customers the ability to choose an alternative electricity supplier," the RED Index noted.