Pennsylvania’s Energy Deregulation
Pennsylvanians have the privilege to forget the steep energy rates of the past and choose their own energy providers to access the financial and customer satisfaction benefits that coincide with deregulation.
A Brief History of Pennsylvania’s Energy Deregulation
Pennsylvania revolutionized its electric market to give its residents the freedom to choose the provider that best suits their energy needs and protects their interests. On average, Pennsylvanians were paying an astounding 15% above the national average for their electricity bills in the 1990’s, so the state helped pave the way to deregulation to put money back into the pockets of its residents. In 1996, the Electricity Generation Customer Choice and Competition Act (EGCCCA) of 1996 was implemented to give consumers a choice in their electric company. With Pennyslvanians raving about the benefits of their deregulated electric market, another act was passed to expand past electric and into natural gas as well.
What does “deregulation” mean exactly?
Deregulation allows consumers to choose their own Retail Electricity Provider (REPs) to find the electric plan that is right for them. The REPs are required to publish their pricing information online to enhance transparency so that consumers can access information easily. Currently only a few privileged states are deregulated and Pennsylvania is one of them. However, even with the REP’s provided information the market can be hard to navigate, so WattBuy is here to help.
How deregulation affects you as a consumer
Primarily, deregulation puts money back in your hands. Prior to the EGCCCA in 1996, the Pennsylvania Public Utility Company (PUC) determined utility pricing semi-arbitrarily with two goals in mind: protecting public interest and balancing costs for the public and utility companies. Unfortunately for Pennsylvanians, this meant paying more that necessary. Now, as a deregulated market, electric providers must be price competitive to maintain their business, which has enabled Pennsylvanians to now pay 4.4% less than the national average on their electric bills. Moreover, residents and businesses have saved a combined total of over 3 billion dollars since deregulation began. These savings are exactly what Wattbuy can help you tap into while accessing switching incentives too such as renewable programs, cash back, gift cards, and savings up to 27%.
These financial incentives to switch are accompanied by electric providers doing everything they can to keep you satisfied. With your freedom to choose your provider you also have the freedom to leave a provider that you dislike, which is forcing electric providers to adhere to the requests of the consumers. Already, residents and businesses in deregulated states claim to see vast superiority in customer service and implementation of customer suggestions and feedback. These customer opinions are now large factors in the electric industry and have sparked pushes for green alternatives statewide.
How WattBuy can help you
With dozens of electric companies to choose from, the decision can be daunting. That’s why Wattbuy can help you choose the right provider specifically for your home or business at no cost to you. Use our website to see the comprehensible, individualized electric plans we’ve gathered for you to make the optimal decision for your home. Simply enter your zip code and we’ll take it from there to compile plans for you right on our site, our free service is easy as that!