Richard B. Priory
chairman & ceo, duke energy corporation
Massachusetts Power Plan called Model
Massachusetts' 1998 restructuring of its electricity markets was hailed by the top executive of one of the nation's largest energy companies.
"The level of energy investment and abundant supply available in this state - whether pipelines or power plants - is a direct result of the commonwealth's wisely constructed electric restructuring model," Priory told the Chief Executives' Club of Boston yesterday. "While California continues to suffer the consequences of its flawed plan, you're doing it right - and realizing the benefits."
"Massachusetts has streamlined the power-plant permitting process and closed the gap between power price signals and supply," Priory said. "Your plan encourages long-term wholesale contracts, effectively managing risk for energy customers."
Still, Massachusetts has a way to go in fulfilling its goals, according to the Associated Industries of Massachusetts Foundation report. Most residential and small business customers still don't have adequate access to competitive power suppliers. Only 27 percent of energy transmitted on Nstar's system, for example, is provided by competitive suppliers, and that energy serves a minute number of very large commercial and industrial users.
Article by Donna Goodison
January 31, 2003