Maybe no interest payments on Delmarva Power rate hike

I am not sure if this is the competition that Delaware lawmakers were hoping for when they deregulated the Delaware electricity suppliers:

"Stung by accusations they cut a lousy deal on behalf of Delaware residents, lawmakers pledged Thursday to eliminate interest payments for customers who choose to delay big electric hikes set for May 1."

Delaware lawmakers are going to try to pass a bill that removes interest payments on the phase-in plan for the 59% electric rate hike just like the one Maryland customers had already negotiated. Maybe Maryland will then ask for a better deal to beat Delaware and the competition can heat up enough to reregulate to eliminate the rate hike.

I think the competition that we need is for several competing power companies in this state so as to encourage lower electricity rates, rather than a competition between state legislatures to produce bandaids for the acute problem, which fail to address the root issue, the rate hike.

tags: peakoil, electricity, Delaware, deregulation