Hillsdale Economist Gary Wolfram releases Energy Study “Improving Michigan’s Electric Utility Industry” Released Today
LANSING – The Michigan Conservative Energy Forum today hosted conservative economist Dr. Gary Wolfram, Director of Economics at Hillsdale College, to release his new study, Improving Michigan’s Electric Utility Industry. In the study, Wolfram highlights inefficiencies in Michigan’s regulated energy sector and recommends that legislative action is needed to control costs, reduce pollution and improve outcomes.
“Michigan has the highest electricity costs in the region and it’s the role of the legislature to pass regulation to protect consumers and improve efficiencies,” said Wolfram. “On their own, Michigan’s monopoly utilities are not incentivized to make choices that are efficient. Through regulation and policy the Michigan Legislature can make the market more efficient, reduce cost and increase economic activity.”
According to Dr. Wolfram, even though Michigan has the highest electricity costs in the region, Michigan utilities fail to provide commensurate service or environmental standards when compared to neighboring states.
“Dr. Wolfram’s study shows that legislative action is needed to rein in electricity costs for Michigan families and businesses,” said Larry Ward, executive director of the Michigan Conservative Energy Forum. “This study is a call to action to the legislature to improve market conditions by incentivizing behaviors that encourage utilities to achieve the state’s clean energy goals. By passing the right incentives, legislative leaders have the ability to create clean energy policy that is a winner for everyone.”
About Dr. Gary Wolfram
Gary Wolfram is President of Hillsdale Policy Group, Ltd, and the William E. Simon Professor of Economics and Public Policy and the Director of Economics at Hillsdale College. He is the author of A Capitalist Manifesto: Understanding Market Economy and Defending Liberty, and has published numerous works on public policy issues. He has served in several policy positions, including Michigan's Deputy State Treasurer, member of the Michigan State Board of Education, President of the Board of Trustees of Lake Superior State University and Congressman Nick Smith's Washington Chief-of-Staff. Dr. Wolfram received his Ph.D. in Economics from the University of California at Berkeley and has taught at the University of California at Davis, Mount Holyoke College, Washington State University, and the University of Michigan at Dearborn.
About MCEF:
The Michigan Conservative Energy Forum is an organization comprised of conservatives who believe that Michigan should adopt a true “All of the Above” energy policy that includes an increase in our commitment to renewable energy and energy efficiency. MCEF believes encouraging diverse and local energy production and reduced energy waste will create jobs and stimulate Michigan’ economy, reduce our reliance on foreign energy, improve our national security, and protect our valuable natural resources. For more information and additional copies of Improving Michigan’s Electric Utility Industry and other white papers, visit MCEF online at http://www.micef.org/.