What Is Energy Choice?
Energy choice is the basis of what we do- but what is it?
Deregulated energy markets, commonly referred to as “energy choice” or “electric choice”, came about in 1992, with the creation of the National Energy Policy Act. This act addressed all aspects of energy creation, distribution, and consumption. Included in this was an outline for creating a competitive energy market by allowing groups other than utility companies to generate and sell energy supply. It was left up to individual states to decide if they’d like to take part in this new, deregulated, energy market.
As of 2022, about half of states (plus Washington, D.C.) have deregulated the supply of natural gas or electricity, while only a handful have deregulated both. In these states, consumers have the right to choose which supplier they purchase their electricity or natural gas from. In addition to allowing consumers better control over their energy costs, energy choice also allows consumers the option of powering their properties with solar, wind, or other renewable resources. In most cases, the independent supplier will offer fixed-rate contracts ranging from one to five years in length, meaning that the consumer can protect themselves against fluctuating energy costs and inflation.
So where do we come in? Electric Advisors does the hard part for you. We work with dozens of independent supply companies to build custom quotes based on your unique energy needs. After gathering these custom quotes, we present them to you in an easy-to-understand format and provide advice and input to help you make an informed decision. When you choose your own supplier, the only thing that changes is the “supply” line item on your bill. There is no disruption of service, no new fees from your utility company, and no new equipment to be installed. Energy purchased through an independent supplier will still be delivered by your local utility company.
In short, energy choice allows consumers to choose how much they pay for their energy and how that energy is generated. It is a great option for consumers looking to gain more control over their energy costs, as well as those who may want to take advantage of renewable power without having to purchase their own equipment to generate it. Energy choice benefits everybody. If you’re interested in finding out what energy choice can do for your business, contact us today!
