Dissatisfied with the snail's pace of Congress in opening up the nation's $200 billion electric market to competition, Illinois and New Hampshire have decided to give electric competition a shot.

Electric power consumers -- both residential and business users -- will be the major beneficiaries of electric power deregulation. Their monthly bills will drop. Based on the early experiences of consumers in New Hampshire and Illinois test programs, Citizens for a Sound Economy has estimated amounts that consumers in states that have already passed restructuring legislation or are close to allowing retail electric competition might save.

• Bills in California would drop from an average of $60.18 to $44.45-$51.15 a month.

• Consumers in Illinois would see a decline from $65.77 a month to $48.58-$55.90.

• Massachusetts' average $61.90 bill would decline to $45.72-$52.62.

• New Hampshire's average $73.61 bill would drop to $54.30-$62.48.

New Yorkers would realize savings ranging from $10.56-$18.40 a month, about the same savings expected in Pennsylvania.

Savings, however, will vary not only between states, but also within the same state. For instance, in Illinois electricity costs 11.5 cents per kilowatt hour in Chicago, eight cents in Peoria and seven cents in Springfield.

Source: Adrienne Fox, "States Give Power to the People," Investor's Business Daily, June 16, 1997.