City Power Choice is here to help you take advantage of the many benefits electricity deregulation has to offer. Deregulation can helped you save money with a lower rate for your electricity.
The electricity deregulation laws allow consumers to choose their electricity provider so they can find the best price for their power. There are a variety of retail electric providers (or REPs) that you can choose from and that includes the incumbent utility. Since the deregulation has taken place, many states like Texas have taken full advantage of the benefits – over 85% of industrial and commercial consumers have chosen to switch Texas electric providers. Why have so many industrial and commercial consumers switched to another provider? Let’s take a closer look at the benefits to electricity deregulation.
1. Price Competition. With the Senate Bill 7, the law makers wanted to increase competition by initiating the “price to beat”. There was concern that the incumbent utility providers would start undercutting the new competition. That is why included in the Texas Senate Bill 7, there was a phased in approach to the deregulation with the price to beat. There was a price floor that new entrants could charge below but the incumbent utility companies could not. This price floor lasted until January 1, 2007 and now all companies are competing on a level playing field.
2. Better Customer Service. With more companies fighting for business, price is not the only thing that power companies compete on Customer Service. If a customer is not satisfied with their customer service, they can now choose to switch power providers.
3. Ability to Choose. Customers now have the ability to choose which providers they want to provide their services. There are websites, like ChooseEnergy.com, that one can use to search for and compare prices. Those websites will compare across companies and one’s location to show you the going rates for electricity.
4. Innovations in the Electricity Industry. With competition, there is always innovation as companies are trying to compete for business with the lowest rates, customer service and new innovations. Innovations are important because they keep things changing and help the environment.
5. Option for Renewable Energy. Some power companies offer renewable energy options for providing service to customers. This is now an option for consumers to choose.
6. More value-added services. Different power companies offer different services. Some offer air-conditioning maintenance or reward programs or even cash back.
7. No interruption of service. People may be afraid of switching providers because of a fear of switching off their electricity. This is not the case, service is not interrupted at all and switching is very easy.
8. Monitoring by Texas Public Utilities Commission. Even though deregulation is in effect, the Texas Public Utilities Commission still monitors and ensures electricity is still delivered to the consumers.
So let us help you understand your options so you too can benefit from energy deregulation. Learn more at Choose Energy.