Vermont Owes Costello "Thanks"

From Dean Corren:

 With Tom Costello running for Lt. Governor, Vermonters ought to know about something Tom did that effects us all every day.

In the 1990s, a notion invented on Wall Street to extract more money from the highly-regulated electric industry became a political fad.  “Deregulation” was sold as competitive and modern.  Politicians across the country lined up to pass it.  In California, the legislative vote was unanimous, and the state’s economy was soon held hostage to manipulated electric shortages and soaring prices.  Bad outcomes have been repeated –less spectacularly – throughout the country.

In Vermont, Governor Howard Dean pushed deregulation, and it quickly passed the Senate in 1997.  In the House, the Speaker set up a tri-partisan special committee to examine it, which hired analysts, took extensive testimony, and finally voted to reject the legislation.  But the momentum for deregulation was still intense when Dean hand-picked a committee to push it.  In the next session, the Speaker sent the bill to the committee chaired by Tom Costello, on which I served.

Though not an energy expert, Tom conducted the hearings with fairness, and a thoroughness that was inspiring  – actually requiring the proponents to prove their assertions.   He showed what could be done using the tools of clear thinking and tough questions.  The case for deregulation in Vermont fell apart, and the vote against it was overwhelming.

With all the mistakes and inaction on energy planning over the last decade which have saddled Vermont with exporting huge sums from its economy each day, imagine where we’d be now with a doubling of electric costs.  Tom Costello is owed a huge “thank you” for fighting and stopping that outcome.

Few politicians have risen to the opportunity to save Vermonters so much money.  It would be a great move for Vermonters to give Tom a further chance to tackle these issues as Lt. Governor.

www.tomcostelloforvt.com