Group asks for deregulation of Wisconsin electric utilities

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Wisconsin officials are being asked again to dump the government’s long-time regulation of electric utilities.

The Compete Coalition said utility monopolies in the Badger State have been raising their rates. The group says if they are deregulated it would lead to more competition and lower rates for everyone.

The Compete Coalition group says 41 of its 669 members have ties to Wisconsin. It said consumers could only win if the state “takes steps to reduce the adverse impact of protected monopolies, and adopts laws and policies allowing competitive market forces to provide incentives for increased efficiencies, lowest available costs and environmental improvements.”

The governor and Legislature would have to approve any changes. Gov. Scott Walker’s office said it would need to see a specific proposal before commenting.

Wisconsin considered utility deregulation in the 1990s, but the issue died after it sent prices soaring in California due to market manipulation.

The Citizens Utility Board, which represents Wisconsin consumers, says deregulation would be risky. The group said Midwest states that have kept their utility markets regulated have lower electric rates than states that have chosen deregulation.

Tags: business, wisconsin, government, social