Consumers always have the right to choose the products they want to use. When it comes to electricity, though, not everybody has a choice. It all depends on the area where you live.
In some states, consumers have to be content with the existing public utility provider. This applies to areas where the state regulates electricity providers. As such, consumers just have to stick with the rates being charged to them each month and they can be tied to this situation for the long term unless the electricity market in their locality undergoes deregulation.
But in a deregulated electricity market, people have an option to choose their provider. In the U.S., Texas and Maryland are some of the 12 states that allow unlimited competition among energy providers. This gives people the freedom of choice when it comes to the company from which they want to get their electricity supply.
Australia is another country that provides consumers with a choice in their electricity suppliers. Australian states that have opened up their energy markets to competition are Victoria, New South Wales, Queensland and South Australia.
In areas where electricity is deregulated, consumers can switch providers if they feel it’s necessary to do so. This is a good option for people about to end their fixed price contract with a long-time provider.
Before you change to a new provider, however, make sure that you do some comparison shopping first. This will help you compare plans and prices offered by electric companies in your area and determine what best suits your family’s needs. You can even do your research on the internet through some websites that provide comparison tools including calculators to help you determine the best power rates. Some sites even help you in the application process as you switch from your old provider to the new one.
The benefit of switching electricity providers is you can save money over time. Since there’s health competition, energy prices go down and suppliers take the extra effort to improve their service and offer more products useful to consumers. With lower electricity bills to pay, families can enjoy big savings moving forward.