Understanding The Impact On Consumers
Open Market Energy wants you to understand exactly what deregulation is and what a deregulated market means for you as a consumer.
What is Regulation?
In certain areas across North America, energy prices remain regulated. This means that all energy providing processes, including pricing, are governed by a regulatory or government body, with only the local utility able to sell directly to consumers. The utility companies or government agencies set the prices for natural gas and electricity supply, along with the associated transportation and distribution costs associated with those commodities and ultimately, consumers have no choice when it comes to their energy provider.
What is Deregulation?
Deregulation has taken place in many states and provinces throughout North America. It has allowed competitive energy suppliers, such as Just Energy, to enter the markets and offer their energy supply products to consumers. Energy prices are not regulated in these areas and consumers are not forced to receive supply from their utility. In deregulated markets, consumers can choose their supplier, similar to other common household service providers. The marketing of these services is still regulated.
Why is Deregulation Important?
Deregulation gives consumers choice. A deregulated market allows you to choose your commodity supplier. It also motivates retailers to differentiate their products from the utility and those of competitors by developing innovative features, pricing plans, and options that would have otherwise not been available to you.
Green energy products are an example of innovative programs made possible by retailers like Just Energy. In deregulated electricity markets, these products support the generation and injection of renewable energy into your electricity grid, making it greener than it otherwise would have been. In a deregulated natural gas market, these green products support emission reduction projects that prevent polluting gases from entering the atmosphere and help contribute to a cleaner, greener environment.
States with Deregulated Electricity
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