American consumers will see significant savings on their electricity bills once that industry is fully deregulated and competitive in the next few years. But the big winners will be electricity-intensive industries -- and perhaps their savings will eventually find their way to consumers as well in the form of lower priced goods.

• The U.S. spends $212 billion a year on electric power.

• The average homeowner spends about $850 a year on electricity.

• Deregulation and greater competition is expected to knock 20 percent to 30 percent or more off that bill in the next five to ten years.

• Electric power is the biggest American industry ever to be deregulated -- twice the size of the long-distance telephone business.

Electricity can account for more than 15 percent of operating costs for big companies, with industrial and commercial companies consuming about 60 percent of all power sold in the U.S.

Experts anticipate that the benefits and cost-savings inherent in deregulation will significantly improve American industry's competitive position in the world economy.