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The Deregulation of Energy Industry
The Deregulation of Energy, Natural Gas and Electricity is well over a 500 Billion dollar Industry. People like Bill Gates, and Warren Buffett say that the deregulation of energy will lead to the greatest transfer of wealth in our lifetime.
By: Bob Hannah
The United States is transitioning away from energy monopolies. Deregulation of the electricity and gas industry has been mandated by Congress to be completed by 2015. It’s already here in California. Residences and businesses will now have a choice for their energy needs. The Deregulation of Energy is used to introduce competition into the energy industry. This is done by allowing consumers to decide from whom they buy their utilities from. Anybody would be thrilled with options when they must spend money.
A few decades ago, options among energy suppliers were not available. The power market in each state was virtually monopolized. This meant that people had to take the power that they were given, at the price that is was offered, from the source making the offer. The Deregulation of energy has changed this, giving the power to the people.
The Deregulation of Energy is a state issue. Some states have seen the benefits and have written legislation regarding energy deregulation. Other states have not been so eager to embrace the idea, thereby denying their residents the power to choose. When it is available, the options provided by the deregulation of energy may go beyond giving home owners and businesses a list of companies from which to choose from, also allowing them to make money off their own bills. Consumers may be able to choose between different types of companies.
The deregulation of energy also provides users with an additional means of recourse when they are not satisfied. A consumer may not be happy with the services provided or she may not agree with an energy company’s business practices. Such individuals can take action by spending their money elsewhere.
When there were no options, we simply paid our bills. The deregulation of energy often results in consumers becoming more knowledgeable about the industry. There usually are sources available to help people learn more about energy deregulation and to help them make informed decisions when they are given the right to choose who they pay their utility bills to.
The Energy Market, Natural Gas and Electricity is well over a 500 Billion dollar Industry. People like Bill Gates, and Warren Buffett say that the deregulation of energy will lead to the greatest transfer of wealth in our lifetime.
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