Michigan may add new restrictions onto its energy market [VIDEO]

Transcript

Though its energy market remains deregulated for the time being, Michigan may soon see some re-regulation in the form of customer purchasing restrictions.

A set of bills proposed by House Energy Policy Chair Aric Nesbitt will require Michigan residents to buy their energy in state. The law this measure looks to overturn allowed customers to seek out alternative means of power, which included drawing it from neighboring states.

While Nesbitt contends this legislation would hold affected ratepayers accountable for the financial burden they place on in-state energy customers, others point out the bills will stifle price competition since the state's two largest retail energy companies will monopolize the market share.

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