subject: Electric Deregulation - Your Household's Selection Of Energy Companies [print this page] The debate over electric deregulation has been continuing for over 20 years and has affected many of our nation's lower electric bill MD. With the enforcement of deregulation, consumers will be able to "shop around" for electricity and pursue a product that is appropriate for them and their electrical needs. The creation of new energy technology has thrown the electricity industry for a loop and has provided a place for a new market to begin to grow.
Way back when the first electricity companies began to emerge, it quickly became an unstoppable monopoly. The distribution and price tag for the electric commodity started then and still goes on today. With electricity companies charging what they felt was appropriate, consumers were stuck paying. With no options made available to them, buyers were stuck in a corner paying for electricity from one company.
Other familiar commodities, such as the banking industry and communications industry, are completely deregulated and the competition in their respective markets keeps the natural economics of each in check. By creating a similar market in the electricity industry, Americans will have the opportunity to shop for the energy provider that offers the best value for their situations, as opposed to the former blanket market that offered the same product to completely different consumers.
The regulated electricity industry is by nature a monopoly. Bound only by borders assigned by the Federal Energy Regulatory Commission, electricity companies charged what they deemed appropriate, citing generation, distribution, and marketing of their services for the sometimes exorbitant costs. Deregulation, when first put into motion, was relatively unsuccessful. Small companies couldn't stand up to the larger companies that have had the business of their customers for years. With no previous opportunity to sell and grow, smaller electric choice in MD have been suppressed by the powerful monopolies that dominate the market. The fledgling market was oppressed by the "if it's not broken, don't fix it" mindset. Powerful monopolies will not easily surrender to such a small group of competitors. However, with the growth of a greener America, electricity providers have to adapt.
People could look around and research for electricity providers that fit their specific and individual needs. With a more open market, value and service were introduced into the electricity market. People shopped for more environmentally friendly energy options, bringing in a whole new component to the market. The government began to offer tax exemptions and other benefits for investing in greener electricity technology, and people obliged. The hope of a lower electricity bill and more sustainable energy put the electricity market in a whole new light. Suddenly, they had to adapt to the demands of their consumers, and this created a new type of market for the electricity industry.
