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Energy deregulation allows consumers to choose their electricity supplier, providing options and the ability to uphold environmental beliefs. It also leads to increased knowledge and recourse for unsatisfied customers. Implementation and options vary by state.
Energy deregulation is used to introduce competition into the electricity sector. This is done by allowing consumers to decide from whom to buy their electricity. People generally appreciate a variety of options when it comes to spending their money.
A few decades ago, the options among energy providers were unheard of. The energy market in each state was practically monopolized. This meant that people had to take the power they were given, at the price they were being offered, from the source making the offer. The advent of energy deregulation has changed all that, giving consumers the power to choose.
Energy deregulation is a state problem. Therefore, discussions, decisions and methods of implementing it can vary greatly. Some states have seen the benefits and have written energy deregulation legislation. Other states have not been so eager to embrace the idea, thus denying their residents the power to choose.
When available, the options provided by energy deregulation can go further by providing consumers with a list of companies to choose from. Consumers may be able to choose between different types of companies. In California, for example, consumers had a choice between investor-owned utilities, locally-owned electric utilities, and independent electric providers.
The right to choose electricity suppliers can also enable consumers to uphold their environmental beliefs. Some people, for example, are against the use of coal due to its negative effect on the environment. These people can then choose cleaner sources of energy, such as wind or hydroelectricity.
Energy deregulation also provides consumers with an additional means of recourse when they are not satisfied. A consumer may not be satisfied with the services provided or may disagree with the business practices of an energy company. Such individuals may act by spending their money elsewhere.
When there were no options, many people simply paid their bills and usually no longer cared about electricity. Energy deregulation often leads to consumers becoming more knowledgeable about the industry. People tend to know more about electricity generation, transmission and prices. This is true even among people in states where energy has not been liberalized.
There are usually sources available to help people learn more about energy deregulation and to help them make informed decisions when given the right to choose. In Texas, for example, the Public Utility Commission of Texas claims to provide people with unbiased information about their options. In some cases, online sources can provide a quick price comparison between companies.
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