Wednesday, January 11, 2017

3 Major Benefits of Energy Deregulation

More than 150 years ago, wood was the source of nearly 90% of the nation's power generation. But as you know, the energy industry has gone through a number of changes, and continues to do so rapidly. As we become more focused on conserving energy and reducing costs, the U.S. is seeing a shift towards energy deregulation.

For the past century or so, governmental agencies have worked with individual utility companies and energy suppliers to offer people a single standardized option. This kind of tight control helped establish an infrastructure and stabilize the industry during the early 20th century. However, in today's world, this regulated system has become outdated. Rather, supporters of energy deregulation are aiming to allow alternative suppliers to enter the market and restructure the way we purchase energy without changing the way we deliver or receive it.

The Top Three Benefits of Energy Deregulation

1. Save on energy costs
We know that capitalist economies harness the power of competition to drive down prices. This is what can happen as a result of energy deregulation. A deregulated market can help force energy suppliers to compete for business by offering more attractive rates.

2. Benefit the environment
Worried about your carbon footprint? Energy deregulation allows consumers to opt for greener energy by choosing an energy supplier who is dedicated to using renewable resources. According to the American Environmental Values Survey, as many as 77% of Americans are concerned about the environment. In a deregulated market, you have the option to do what is best for the planet while conserving energy and money.

3. Experience better customer service
Regulation can give local utility companies a monopoly on the energy market. Without any competition, they may not have to work hard for your patronage, which can result in potential customer service shortfalls. In a deregulated market, competition can help drive prices down, as well as boost customer service efforts..

Because deregulation affects who supplies your energy but not how your energy is delivered, if you do decide to switch to an alternative supplier from your local utility, you won't experience interruptions in service. You won't have to install new hardware either. The process of switching over is quick and simple.

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