You need energy to run pretty much everything in your home; whether it’s your television, kitchen appliances, or even your lights, you absolutely need it. Without deregulated energy, you only have the option to go with state-appointed utilities.
However, there are so many other options out there when you live in a state that has deregulated energy. Below, you can read more about deregulated energy and what providers can do for you. If you’re looking for the best energy provider in your area, check out our comparison tool here.
If you want to learn more about a specific company, check out our list of energy providers!
What's Deregulated Energy?
The first question that needs answering is: what’s deregulated energy? Deregulated energy is giving consumers the right to purchase energy services from retail providers. In other words, you’re getting your energy from a private source rather than the government appointed utility. In fact, there’s no government interference with your energy supplier in deregulated states.
The purpose of deregulated energy is to creative a competitive market between providers. That means there are offers, promotions, and programs set up to help facilitate competition. This prevents a monopoly on energy which benefits the consumer by giving them options and competitive prices.
States That Have Deregulated Energy
Believe it or not, not all states in the United States have deregulated energy. Below, you’ll see all the states where energy deregulation is present. All other states in the US only offer state-appointed utilities. If you live in one of these states, Finance Guru wants to help you find the best energy provider in your area. Check out our energy comparison tool and see which providers are in your area and the promotions they offer.
Retail Providers vs State-Appointed Utilities
Even if you live in deregulated energy states, you can still choose to have state-appointed energy. While you’re guaranteed a price with a state-appointed energy, you forfeit your ability to choose a provider based on price and promotion. With all the options available to you, there’s bound to be something more affordable.
When you have a state-appointed energy, there’s no real competition. They don’t have to offer a great service, competitive prices or quality customer service. You’re at the mercy of the state and what they offer to you because you don’t have another option.
Benefits of Deregulated Energy
The most obvious and already mentioned benefit to having deregulated energy is your ability to choose. Having choices in energy means you’ll get better prices because if a provider overcharges, you can go with another option. There will also be promotional opportunities with offers and loyalty plans.
There are more benefits than just price, though. When there are multiple choices among energy providers, they’re going to innovate to convince you to go with them. The providers will learn new ways to offer their service that other options don’t offer. In other words, you’re getting better service for a better price.
Not only are your options going to be better, but there are green options available to you as well. If you want to reduce your carbon footprint, you can choose a green energy company that offers renewable energy plans. Since green options don’t start using as much energy, it’s a great way to save money on your bills.
Many people don’t think about customer service when they’re choosing an energy provider, but it’s extremely important. In a deregulated energy market, the providers will do whatever it takes to keep your business because they know you can easily switch to another provider. That means that their job isn’t done after you sign the dotted line; their customer service needs to be a high quality.
Deregulated energy benefits providers as well. In fact, many of these providers wouldn’t exist in an area without deregulation. Without there being a monopoly on energy, new and innovative providers can enter the market and shake it up. With the right price and strong service, providers can steal consumers from other energy providers.
Finance Guru Is Here to Help with Your Energy Needs
Deregulated energy markets give you a choice in your energy provider, but the question is, who do you choose? That’s where Finance Guru comes in.
We know that it’s not easy to make such a huge decision and we want to help you through the entire process. Our energy comparison guide will help you find all the best options in your area, and who offers the best prices and plans that fit your needs. We’ll make sure that you get the best energy provider for you.