Bring on the electricity competition!

As seen in the Olympics these last two weeks, competition brings out the best in everyone. Skaters squabble, ice dancers tumble, and snowboarders wipe out ... all in the name of elbowing out the other guy for glory. Now Illinois residents must choose whether or not to allow their electricity suppliers to compete, all for their benefit and amusement.

Currently, Exelon/ComEd is the most profitable electric utility in the entire US and is actually cutting rates in other parts of the country like Pennsylvania (source). Unfortunately, the company is nowhere near as profitable as, say, Exxon Mobil, and this threatens CEO pensions. I'll let you investigate the two sides, then I'll explain why I support one of them.

Side 1: More competition in Illinois' electric market is good for consumers ... bringing consumers the lowest available market price.

Side 2: Don't be shocked by your electric bill! Support House Bill 1944: Let's stay the course and continue to support affordable rates for customers who literally have no other options.

I personally love competition. Since I happened to mention Exxon Mobil, let me show you the types of choices the free market is able to provide the customer.

Your SUV's gas tank is on empty. Where do you go to fill up? With so many choices in the city, here's what you'll find:

Lowest Regular Gas Prices in the Last 24 Hours

• Shell station at Clark and Devon: $2.39.

• Citgo station at Nagle and Northwest Highway: $2.39.

• Marathon station at 7159 W. Higgins: $2.39.

• BP station at Lawrence and the Kennedy Expressway: $2.39.

• Shell station at 7201 W. Higgins: $2.34.

So there you have it! The free market works. If your Ford will make it to the far northwest side, you can save a nickel. Choices like these are what we need in the electricity market.

Need more evidence? OK, why is it that when I want new cell phone service, I can choose between the $30 plan from one company and the comparable $29.99 plan from another? That's consumer choice in action! Also, when I get junk mail that says Company X can save me $300 on my auto insurance and so I call them, it turns out that they would actually save me $5 every six months? So many choices! (Meanwhile, I remember living in Massachusetts back in the mid-90s, where they had government-controlled auto insurance rates, and those were literally half what I was paying in Illinois at the time.)

I think the choice is clear. When companies compete, they win.