What Does Deregulation Mean to You?
Texas Senate Bill 7 was approved in 2002, granting independent power supply companies admission to the state’s energy market. The bill established a committee to oversee the project, and guidelines were established to allow the market to open in phases. Today, many areas of the state are deregulated, and that means consumers now have a choice when it comes to the company supplying their energy. They also have a choice when it comes to the type of energy they want to consume. If you live in a deregulated area or your area may open to competition soon, keep reading to see what this new development means for your budget and your lifestyle.
You Get to Keep Your Energy Distributor
The utility company that has produced and distributed electricity in your area for generations isn’t entirely cut out of the deal when you decide to switch to a competing service like Reliant Texas or Stream Energy. While you will start receiving energy produced by the supplier of your choice, your utility company will still maintain and operate the grid that delivers your energy.
This means that you can switch to an electricity supplier with more affordable rates without changing the reliability of your service. In fact, you shouldn’t notice any difference in the consistency and strength of your power once you make the switch.
Competition Empowers Consumers
When energy companies held monopolies over the market, they had no incentive to offer the most affordable rates possible. They weren’t even driven to maintain their equipment, ensure that their plants operated efficiently, and invest in green technology because consumers had no alternative but to accept their services despite their lack of responsibility to the environment and the customer. Deregulation turns all of that around by bringing in competitors willing and able to supply consumers with higher quality and more affordable energy on demand.
This means that you can now enjoy cleaner energy from better production facilities, and you often get a much lower price when switching to a competitor. You now have more power, and you get to vote with your loyalty to one chosen service provider.
You also aren’t limited to electricity now that Texas providers are investing heavily in green energy. Consider solar and wind power as two alternatives growing in popularity and dropping in price year by year.