Energy deregulation has been available in many states for some time now giving residential and commercial customers the ability to take advantage of better pricing and rebate offers. If you are in a deregulated market your utility will always be the company to deliver your electricity or gas but may not be the best price option for the commodity.
Lots of people may know they have the ability to choose but may not because of some misconceptions or myths that may exist about what will happen if they switch.
Here’s the truth about some of these myths.
Your utility will give you poor service if you switch
Your utility is there to provide you emergency service, deliver your electricity or gas and respond to outages. This will still happen when you switch to another supplier. Deregulated markets are still highly regulated and that is also with the delivery by your utility. They have to maintain the wires and poles no matter what supplier you decide to go with.
Your electric supply could be temporarily interrupted if you switch.
You will not have an interruption of service when you switch from your utility to another supplier. Switching to another supplier may take a few weeks or may happen at your next billing cycle but the transition is seamless. The only thing you might see change is how much you pay.
Energy suppliers make up for cheaper prices with hidden costs.
In some states your utility is charging you because you are NOT with an alternative supplier. Most reputable suppliers are very upfront about charges if any. The ability for an alternative supplier to bring customers competitive pricing comes from the ability to shop the wholesale markets and buy commodity competitively and pass this on to the customer. This is something a utility cannot do.
I wont get the right price on my bill.
All registered and regulated energy suppliers interact with the utility on a daily basis. Any price that is offered and enrolled by a customer its electronically transferred to the utility, recorded and implemented on your bill.