Energy Deregulation for the state of Washington D.C
Residents in Washington DC have the power to choose their energy supplier. This is due to the deregulation of energy in the 1980’s. Deregulation has the energy consumers other options for getting energy to their homes than to buy it from the utility. Before deregulation, consumers have no other choice but ever since energy was deregulated in Washington DC, people had the choice to choose their energy provider.
Here’s how deregulation works; customers can “buy” their energy. They can choose from a list of suppliers and opt for the one that best suits their budget and energy needs. It’s like shopping for a mobile credit card- you choose your company and then you can choose the packed that works best for you. Consumers can shift from one supplier to the other easily. They also have the choice to continue buying energy from the utility, but shifting to a different supplier can bring numerous benefits.
For one, they can save a lot of money on their energy bills. This is due to the suppliers offering cheaper and more reasonable energy rates. This was one of the biggest changes brought by deregulation: it brought competition in the Washington DC energy market. The suppliers had to compete with each other in order to get more customers. Due to the increasing competition, they started offering homes and businesses cheaper deals and better energy rates. As a result, residents of Washington DC had more offers and incentives to choose from. They greatly benefited from the competitive rates and had to no longer overpay for their energy needs. Another positive change brought by deregulation was that it encouraged the suppliers to use environmentally friendly energy resources. In order to offer cheaper energy, some of the energy companies shifted to using 100% renewable energy. They offered attractive deals and offers for the customers, like using green energy to generate electricity. Green energy is energy generated through renewable sources, such as solar, wind, and geothermal. Unlike fossil fuels, these resources do not contribute to global warming or air pollution. By opting for the electricity suppliers that generate energy from these sources, consumers had the choice to show their support for green energy schemes.
In short, deregulation of energy was a positive first step towards cheaper energy rates. It gave the energy consumers the chance to choose the best deals for them and opt for a provider whose energy plans and rates best suited them. They could save up money on their electricity bills and could easily shift to a different energy supplier.