Did you know that some people are able to choose what company they buy electricity or natural gas from? Deregulation is one of those electric terms that many people don’t know about, but that translates to greater freedom for consumers. Across the U.S. and Canada, many states and provinces have recently embraced energy deregulation and surprisingly many people still don’t understand what that means for them.
If you live in an area that enjoys the benefits of energy deregulation, a few minutes of your time can make a dramatic difference in the amount of money you spend each month on energy. Instead of only having one option when it comes to where your electricity comes from, people in deregulated markets get to choose from a variety of competitive offers from different energy suppliers.
Having the ability to choose between suppliers doesn’t impact the reliability of your services. The utility company that used to be in control of the market still exists, but purely as a transmission and distribution operator. If you have an outage, or need to report some sort of problem with your service, you’ll still contact your utility company directly. The only difference between a regulated and a deregulated energy market for consumers is the amount of money they have to pay each month.
On top of being able to find lower rates on energy, deregulation means that consumers can purposefully show support for a specific supplier. This is particularly important when talking about green energy production. If a consumer is interested in supporting green energy they can find a supplier that utilizes these new technologies exclusively. Energy deregulation enables industry growth and savings for the consumer. When you combine all these benefits, what’s not to love about energy deregulation?