What is Energy Market Deregulation?
What is energy market deregulation?
Imagine if there was only one cell phone provider. If you only had access to one provider (such as AT&T), you would be limited to their plan, their rates and their features. This is similar to energy deregulation. Every energy supplier carries a variety of customized plans, special offerings and prices. With energy deregulation, the consumer has the power to choose which energy supplier works best for them. In states that have not yet introduced energy deregulation, all energy providers are governed by a regulatory body, such as the state government. Under regulation, the utility owns and operates all energy.
What has energy deregulation brought to the market?
Deregulation not only gives consumers flexibility – it also gives suppliers the flexibility to come into the market and offer a variety of diverse products and plans. For instance, many energy suppliers offer different terms for their products, including one-year, two-year or even four-year energy plans. If your energy use is unpredictable, you can switch to a supplier with fixed rate payment plans. If your energy consumption has changed by renovating your home or starting a family, you can select a plan that better reflects your new energy consumption habits. In addition to this, the introduction of deregulation has sped up the process of distributing 100% green products.
Why does energy deregulation matter?
There are numerous benefits to energy deregulation. First, deregulation offers increased competition among energy suppliers. Competition in business has its perks – it encourages businesses to offer better prices, better quality products and gives consumers more options. As a result, deregulation can lead to a stronger economy. It can also lead to better energy efficiency and awareness. For example, Green Choice Energy is a 100% renewable energy supplier. When customers choose Green Choice Energy as their energy supplier, they are committing to our mission to create a more sustainable future. By drawing on the renewable and green sources of electricity supplied by Green Choice Energy, individuals and businesses can work to combat climate change. Switch to Green Choice Energy today to support energy market deregulation!