Consumers Benefit From Electricity Deregulation

The electricity deregulation has huge benefits to the average electricity consumer. It opened up the energy supply market to different companies. The ensuing competition between different electricity companies can only be beneficial to the consumer. No matter what you want, you can engage in a little research to find a supplier that suits your electricity needs. Some of the benefits of deregulation include:

Lower Prices

You can benefit from lower electricity prices resulting from the direct competition of electricity firms. Companies entering the market, and even the existing ones, tend to use low prices as one of the factors of boosting their customer bases. Deregulation means you can choose your supplier from among the firms available, and you can use price as one of the comparison factors. These low prices are available for residential customers and businesses, particularly small businesses. As electricity costs form a huge percentage of most business expenses, you can greatly reduce your operational costs by getting your electricity at lower prices.

Increased Service Reliability

Frequent interruptions and lengthy turnaround times top consumer complaints in a monopolized electricity market. The ensuing competition from deregulation means electricity suppliers cannot afford to be that lax. As a customer, you can choose to switch to another provider if you are fed up with your current one’s needless interruptions. Your supply firm understands this, and will strive to eliminate or keep the interruptions minimal. In case you do decide to switch to another supplier, you stand to experience a seamless transition.

Better Customer Service

In a regulated market, electricity suppliers are notorious for offering poor customer service. The problem is that, in a regulated market, you are stuck with your provider irrespective of how bad the customer service is. Deregulation exposes you to multiple electricity suppliers, and you can easily drop one for another one if you are not satisfied with your current supplier. For example, when you have a problem, you should not have to wait for endless days before it is resolved.

Adoption of Green Energy Options

Electricity customers are becoming increasingly interested in green energy options. The fact is that you have a higher chance of finding and using green energy in a deregulated market. If you have concern for the environment, you can shop around for electricity suppliers who share the same values. Consumers are getting more eco-conscious by the day, forcing energy companies to adopt smart and green technologies. Electricity firms need to keep their carbon footprints minimal and avoid over polluting the environment. Many consumers also hope that this will lead to more innovative solutions for efficient energy production.

Promotions and Loyalty Program Benefits

In a bid to attract new customers, and keep holding on to the existing ones, electricity firms in a deregulated market engage in different promotional offers. You can take advantage of these and loyalty programs that may include cash back on bills after a certain period of usage.

Now that you understand the benefits of energy deregulation, you need to start exploring the options available to you. You can start by comparing the different prices for energy retailers such as www.texaselectricityproviders.com. You don’t have to suffer when there are better options available.

Sean Derrick has worked extensively in the field of energy research. He enjoys sharing his finding and insights on various personal finance blogs.

 

Tags: Consumer, Customer, Deregulation, Electricity, Electricity market, Energy, Regulated market, Texas

Category: Saving Money