The energy market is changing across North America and beyond. As states begin to enact energy deregulation consumers are given the "power to choose", but what does this mean for customers and why is it so beneficial? At Discount Power Broker we want to help explain what this means for customers in states that have voted to deregulate their power market and shed some light on exactly how working with Discount Power Broker can help your business decrease the bottom line and increase profit margins.
So what does energy deregulation mean for me?
Energy Deregulation allows consumers the power to choose who they purchase their electricity or natural gas from. In the past, consumers were forced to purchase these commodities from local utility companies and were not allowed to pick a provider best suited for their needs. Through the process of deregulation, these local utility companies no longer have control over who you choose to provide power to your home or business. Now you are able to pick from a host of providers that operate in the state. This has brought on new energy providers to operate on the open market to offer prices different prices to their customers based on several different factors. For the most part, electricity rates are determined by two key factors. Firstly, electricity prices are driven by the natural gas market and secondly, by the demand. Using these two factors energy companies compete to provide customers with the lowest rates or the best terms to win their business and the customer is left with the “power to choose” their power provider.
Which states are deregulated electricity markets?
Currently, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Virginia and Washington DC all give their residents and business the power to choose their electricity provider. This helps create a competitive market that drives lowers prices based on supply and demand factors. In each of these states energy brokers like the ones at Discount Power Broker work for customers to use their partnerships with retail providers along with market expertise to help find their clients the best contract to decrease costs and increase profits.
Interested to learn even more? Give us a call!
The energy market itself can be a very complicated place and its constant changes can leave consumers confused. The deregulation of energy is good for your electricity bill, so if you are a business owner and interested to learn more, give Discount Power Broker a call.