Why Do Deregulated Energy Markets Lower Electricity Costs?February 26th, 2017
Did you know that you have the ability to shop for an energy provider? Energy deregulation provides Pennsylvania homeowners with a choice when it comes to picking a supplier for their electricity needs. If your electricity bills are on the rise, you can choose a more affordable supplier and lock in rates to help you save money!
Here’s how this works. Your utility company provides the delivery of your electricity to your home. It doesn’t, however, supply that electricity, nor does it dictate the cost of the electricity from the supplier. Your utility company has many different suppliers it can use for your electric service. In a deregulated market, you can choose that supplier to help lower your energy bills, all while staying with the utility company you know and trust. When you switch suppliers, nothing will change in terms of your quality of service—but you may notice a change in the cost of your utility bill.
So, do deregulated markets help you save on your electricity costs? Here are few reasons why the answer is YES:
Competition Among Energy Suppliers
First, when you shop through deregulation markets, you add the component of competition. Your local utility supplier is in competition with other suppliers and as such will work to give you the most affordable rate. This helps you to save money.
New Innovations and Efficiencies
Competition and the power of choice forces suppliers to be more cost-efficient. This has led to a number of new efficiencies in the market. When suppliers get more efficient, everyone wins!
In Pennsylvania, it’s possible to lock in the current energy rate. Since energy rates tend to increase, instead of decrease, this can help you save a significant amount of money over time. You can plan ahead, knowing what your energy bill is going to be month to month. This helps you budget more easily as well.
Choose UGI EnergyLink as Your Electricity Supplier in PA
Do you want to benefit from deregulated energy markets? UGI EnergyLink can help you find a more affordable supplier, then work with your utility company to make the switch with no interruption to your service. If you are looking for more affordable electricity service, let us help you find it!