Constellation Energy and its parent company, Exelon Corp. (NYSE: EXC), gave their support for House Bill 5503, which aims to expand competitive energy markets in Michigan and address customers’ demands to be able to choose their electricity supplier.
“We believe this legislation will gradually restore much-needed competition to the state’s energy marketplace, give consumers equal opportunity to pay less for their energy, and put an end to Michigan’s distinction as the state with the highest energy rates in the Midwest,” said David Fein, vice president of state government affairs, East, with Exelon.
The legislation, introduced by Rep. Mike Shirkey, R-Clarklake, would meet the demand for choice by eliminating the 10 percent cap on shopping for electric suppliers. This step would give about 19 percent of customers immediate access to competitive options in the Consumers Energy (NYSE: CMS) and Detroit Edison service territories. For each successive year, the legislation would allow up to an additional 6 percent of customers to shop.
Exelon’s Constellation business unit sells competitive energy products and services to business and residential customers in Michigan.
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