07 Jun What is Energy Deregulation?
The United States government regulates many industries. The Federal Trade Commission enforces laws and regulations that protect consumers from unfair and deceptive business practices. The Department of Labor administers laws governing businesses and their employment practices, including minimum wage, health benefits, working conditions and more. But what about the energy industry?
The federal government, through the Federal Energy Regulatory Commission regulates interstate power sales and services of electricity, natural gas and oil, while the state governments regulate retail electric and natural gas service and facility planning through their public utility commissions.
What is Regulated Energy?
In a regulated energy market, a utility company owns or controls the entire flow of electricity from the point of generation to the meter. The utility sets the prices and the consumer must pay them. Government-regulated pricing meant there is a monopoly on the marketplace and consumers have no right to choose their supplier. Regulated markets are common in the Southeast, Northwest, and much of the west, with the exception of California. Many states, particularly in the Northeast, have opted to deregulate energy in whole or in part.
So What is Energy Deregulation?
In a market where energy is deregulated, consumers and businesses are free to choose their energy supplier. The energy provider remains the same, but the option to choose a supplier can be quite advantageous for your business.
Energy deregulation generates competition among energy suppliers and motivates suppliers to be more creative in their product offerings; combining comparable rates with fair contract terms. Currently, there is some form of deregulation in more than twenty-four states. Some states provide deregulated options for electricity or natural gas while other states have options for both.
The Benefits of Deregulated Energy For Business
Everyone loves freedom of choice. The freedom of choice in selecting an energy supplier can provide significant benefits for your business. However, the task of selecting the right energy supplier for your business can be daunting. Choosing a supplier and understanding energy deregulation is much easier with a professional energy manager on your side. Albireo has the state-of-the-art technology, deep market expertise, and experienced staff to effectively manage your energy. Partnering with Albireo provides your business with many benefits, including:
- Saving money on your monthly energy bills: Albireo can place your business in an energy aggregation with similar businesses to provide bulk purchasing power and generate competitive pricing.
- Suppliers competing for your business: Albireo’s EnergyAuctions is an online reverse auction where suppliers vigorously bid against each other for your energy buy.
- Outstanding Customer Service. When partnering with Albireo, we’ll provide you with professional energy services and unparalleled energy management to effectively meet the needs of your business.
- An Opportunity to Go Green. Many businesses want environmentally friendly energy solutions. Albireo’s energy experts will evaluate which renewable energy options are the best fit for your business.
How Albireo Can Help
If you are not sure whether your business operates in a deregulated energy market, contact us today. Partnering with Albireo is the first step to finding energy management solutions that fit your needs. Our experts are available to meet with you and discuss our services. Reach out to us today at email@example.com or call 800-201-3153. Trust Albireo to power your business.