Since the 1990s, certain states have deregulated their electric and gas markets. When these markets become deregulated, utilities no longer control the entire energy process. New “retail suppliers” are able to enter the market to form and sell energy and compete with utilities, and each other, for customers. In these states, customers finally have a choice over who they buy power from.
What Does This Mean For You?
If you live in one of these deregulated energy states, you have the ability to shop for an independent energy supplier. You have the option to look around for a cheaper price for electricity or gas, and for cleaner power options. Unfortunately, most of us do not have the time or resources to become an energy expert. In fact, most people don’t switch their energy provider at all, even if they have the option to.
Understanding that you have energy options is crucial. We have found that some of our Arcadia Power members pay for plans two to three times higher than the average price for power. The energy market is confusing, but we’re here to help. There are some key things to look out for to make sure you aren’t paying astronomical prices for energy:
- Ensure that this is a legitimate supplier.
- Watch out for any hidden fees.
- Read the terms, and never sign immediately.
List of Deregulated Energy States
Electric & Gas
- New Hampshire
- New Jersey
- New York
- Rhode Island
- Washington, D.C.
- New Mexico
- South Dakota
- West Virginia
*You have to apply to be in the electric program in these states.