Do Consumers Benefit from Energy Deregulation?

photo by CC user Bidgee on wikimedia commons

Millions of people live in areas of the United States where utilities have been deregulated. Most northeastern states, as well as Texas and Oregon, have opened the energy market so businesses can compete for customers.

If you are moving to an area where energy has been deregulated, then you should prepare by learning how to select the right providers for your particular needs. Whether you want to save money or reduce your carbon footprint, energy deregulation gives you the option to choose.

Finding a Company That Represents Your Interests

When you shop for an energy provider, the choices may seem bewildering. Fortunately, there are online services available that help people find and evaluate the options within their area. LocalEnergyCompanies.com, for example, lets visitors compare electricity rates and other features so they can find a company that fits their particular interests – whether economical or environmental.

In addition to searching for companies that have the correct mix of renewable and nonrenewable energy sources and good rates, you can also search for those that provide the contract length you desire. Most utility companies have varying contract lengths that can range from a monthly basis to several years. It is important for you to determine the length that will best meet your needs. This can save you a significant amount of money in the long run.

Read on to learn three benefits of energy deregulation:

1. Lower Energy Costs

Energy deregulation has been overwhelmingly successful in certain states. Companies must now compete for customers, which has led to lower prices and more options for those who want to invest in environmentally friendly power. According to a report by Energy Manager Today, Texans who lived in deregulated areas paid less for electricity and gas than the national average in both 2012 and 2013.

2. The Option to Invest in “Green” Energy Sources

In addition to saving money on your monthly bill by comparing utility companies, you can choose to invest in a provider that uses environmentally friendly methods to generate energy. This is usually measured in a percentage – that is, the percentage of a provider’s energy that comes from sustainable sources, such as solar and wind power.

3. Better Customer Service

When most people compare energy providers, the economic factors are the first that come to mind. But how many times have you tried to contact your utility company and wind up on hold?

Regulated energy creates a veritable monopoly, so providers aren’t too concerned about the satisfaction of their customers. After all, where else are they going to get their energy?

The situation changes entirely with deregulation. Providing exceptional customer service is one way that energy companies are competing with one another.

Final Thoughts on Energy Deregulation

Deregulation of electric and gas companies has introduced several benefits to home- and business owners. As a consumer, you have the power to make a choice based on your current budget, beliefs and financial prospects.

You should take your time when deciding which company to select. Resources like LocalEnergyCompanies.com can simplify this process by helping you compare providers and find a service that fits the needs of you and your family.