Does Energy Deregulation Affect Your Household?
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Regulation of the energy industry began to ensure a reliable supply of electricity but led to monopolies that raised prices. Deregulation laws passed in the 1970s introduced competition which has led to lower costs and more choice for consumers. Consumers can now choose their energy provider and have influenced companies to offer cleaner energy sources. Deregulation has given consumers both economic and personal freedom in the energy marketplace.
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Does Energy Deregulation Affect Your Household?
- 1. Does Energy Deregulation Affect Your Household? The Power to Choose
- 2. Dismantling Monopolies Regulation in the power industry began with the need for maintaining an uninterruptible supply of power to the nation. The belief was that such an important resource as electricity should be kept in a handful of energy suppliers that could be easily regulated. Where in theory this works, in practice it was flawed. With so much money gathered in one place, the regulatory process became taken over by special interests.
- 3. Deregulation Laws • The concept of deregulation is a simple one. The more businesses that are allowed to participate in any given industry means more competition, higher efficiency product, and lower overall costs. Starting in the mid 1970’s, government began passing laws to drive down the soaring price of energy . Over thirty years later and we are now seeing the fruits of these deregulatory laws permeate the entire country.
- 4. Choice for Everyone • In the past, there was very little, if any, choice regarding your power company. When someone moved to a new location they were stuck with whatever company had laid piping there. Companies did not share infrastructure. • Deregulatory laws meant that companies could no longer claim ownership over a territory simply because they owned the wiring. Infrastructure became open to other budding energy companies. For the first time, consumers had the power to choose their service.
- 5. Economic Choice • The first place in which deregulatory laws empowered consumers was the pocketbook. Competition means offering a better product for less. For the first time, consumers had the power to force the energy industry to change. • Today we enjoy the benefits of choosing how much we spend and on what we spend it on. This is a far cry from the “pay by necessity” model of former years. Deregulation laws ultimately mean greater economic freedom.
- 6. Personal Choice • Deregulation is not only about financial freedom, but about personal freedom as well. In the past, businesses need not concern themselves with listening to the whims of their constituents. • Through the ability to buy product that highlights their own convictions, consumers in America now have great influence on the business practices of the energy industry.
- 7. Gas • The gasoline industry has arguably been one of the shadiest parts of the nation’s energy problems. With such a vast amount of wealth to be hoarded, companies sought out larger and larger deposits with little concern for the environment. • Energy deregulation has meant that companies can nolonger grab cash hand-overfist with no external concern. As consumers have become liberated, gas companies have had to tow the line.
- 8. Electric • Since it’s discovery by Benjamin Franklin, electricity has transformed the world. Likewise, the ability to send power across an entire State changed the face of industry. • Thanks to the laws we have today, cleaner and less obtrusive ways of sending energy across the nation have proliferated.
- 9. Green Energy • One of the most exciting things to happen to the world of energy is the emergence of green technologies. In short, “green” refers to energy technology that has minimal impact on the environment. • Energy companies shied away from green technologies for many years as the cost of research outweighed the corporate financial benefit. However, people are demanind cleaner energy these days, and companies that want to stay relevant to the market, are changing.
- 10. The Power to Choose • All of the topics covered in this presentation amount to the same thing. Energy deregulation has not only improved the quality of American lives, but has improved the consumers ability to affect change. • Whether the consumer desires to pay for less expensive energy or is willing to pay more for cleaner, more sustainable options, the truth is plain. YOU have the power to choose for yourself. http://www.shopmypower.com