There has been a lot of talk around the town about switching to alternate energy supplies. Whether they actually provide reliable service and can reduce energy costs significantly? It is essential to look back on the revolutionary past of electricity supplier and how customers were able to select their electricity supplier by choice. Through the above infographic image designed by our infographic design agency, we can see that there are 109 million households, 14 million commercial properties and another half million facilities in the United States, are supplied by 3100 electric utilities, who are providing approximately 3 trillion kilowatt-hour of electricity every year to them.
What is Deregulation?
In the late 1990s, the electricity market was deregulated. Many people find it difficult to differentiate between regulated and deregulated market, it can be a challenging concept to understand. In a deregulated market, competitive energy suppliers have entered the markets to provide consumers with energy products. The benefit of a deregulated market is that it encourages competition amongst the suppliers, which results in lower prices and a chance for customers to search better deals. Deregulation in the United States, is being conducted on a state-by-state basis which makes it tricky for people to determine whether their state has deregulated electricity. Through our creative infographic designed by our infographic design agency which has artistically displayed how deregulation has taken place in over 13 states of the country, and it can be observed that more and more states are adapting this mechanism. Deregulation allows customers to self-pick the supplier from which they want electricity, depending on the affordability. Deregulation has also given rise to innovative to alternative energy products to attract more and more people.
Impact of Deregulation
With the above infographic crafted by our infographic design agency, it vividly displays through a combination of striking colours how different states have been deregulated and those who haven’t. Deregulation in different states means different things. The option to choose a suitable electricity supplier may not be as easy as it sounds. People usually assume that the most important factors reflect the price but there are many factors to consider while selecting an electricity supplier. People need to conduct adequate amount of research on their desired supplier’s reliability, availability of state license, load management and any additional fees that they might be charging.
Important Questions to ask Suppliers
- Whether price per kWH is a fixed price?
- Are there any monthly charges or additional fees accompanied with the plan?
- Does the supplier cost include tax?
- Do you provide a contract and how does this affect the cost?
- If I decide to break the contract in between, will there be any charges applicable?
- If I have billing issues can I contact your directly?
For further assistance the infographic image designed by our infographic design agency clearly depicts the various terminologies and their description to provide an easy understanding of common terms usually seen on bills.
Benefits of Deregulation
- Allows selection of electricity suppliers: People can now be able to compare various suppliers and their deals to arrive at the best affordable deal that best suits them. This displays the power of the buyer and suppliers will be forced to provide efficient services at low costs to attract potential buyers.
- Rise of competition in the electricity market: Because deregulation has allowed the division of electricity amongst various suppliers, this allows suppliers to possess a proactive approach to the way they plan, price and the products they make available. They will have to come up with affordable plans to keep customers engaged and provide efficient alternatives from which they can benefit the most.
- Opportunity to switch suppliers: The foremost benefit of deregulation is that it allows customers to switch their plans any time they feel that they aren’t receiving the optimum out of their electricity supplier. This results in suppliers being prompt and active when it comes to devising plans and positioning their energy products. With competition at rise, suppliers look elsewhere to find innovative alternative to attract and captivate customers towards them. If suppliers are unable to beat this rough competition, they sadly will run out of business eventually.
This infographic designed by our infographic design agency has visually displayed colourful and lively statistics to support the factual information provided within. It has successfully demonstrated interesting pictorial images which have explained information which otherwise would be dull and boring if written.