What is Electricity Deregulation?

What is Deregulation? To many of us, we simply want to flip a switch and have the light come on in our home or business. So what does electricity Texas electric deregulation mean to you? Just like choosing your home telephone service or buying an airline ticket, large industries must be deregulated to promote competition. This process leads to lower prices and a wider selection of services for you the consumer. The point to deregulation is that you now have control. You have the control as to who supplies you Texas electricity, so you can determine what matters most; lower prices, cleaner energy, better customer service, or better payment options. Whatever matters to you, deregulation gives you that power – your power to choose not someone else’s.  

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This is an exciting time and Texas is leading the nation in electric deregulation. Many states are looking at the Texas electricity model for their future deregulation plans and policies off what our state has created. With competition, customers can now freely negotiate with Texas electric providers that are competing hard for your business. Due to increased demand, natural disasters, and other factors, energy costs have risen across the board since deregulation, but we now seeing the advantages of deregulation in lower electricity prices. Texas electricity prices have come down 40% since the summer highs of 2008. This dramatic decrease in price has only been seen in deregulated parts of Texas Home Power Plans.  

Just as the Internet has made it easier for people to compare mortgages, travel rates and other services,  a ‘compare and buy’ site that offers a trusted and objective comparison of available Texas electricity providers for residential and commercial customers is a good thing to use. Before now, comparing and switching Texas electric providers was a very frustrating, confusing and time consuming process for Texas residents and businesses. Consumers and business owners now get direct access to real-time pricing and the ability to switch providers, through an easy-to-use electricity services portal.  

How do you switch your Texas electricity and what is the process? First, you need to select the retail electric provider that meets your needs. If you are in a deregulated area of Texas, you can change providers at any time and it does not cost you anything. Once you have signed up with a new provider and accepted their terms and conditions, your new electric company will mail you a Terms of Service agreement and Your Rights as a Customer.  

Do I need to contact my current provider? No, your new provider will make all of the necessary requests. Your new provider will then contact ERCOT and your current TDSP (wires company) to process the switch from your current provider. You will then receive a notification of your switch request in the mail. The actual changing of electric service should take place on the next meter read, unless you requested and paid for a special meter read date. Your old provider will continue to send you bills until you have paid in full and your service has been changed over. Once you have paid the final bill from your old electric company, you should start to see bills from your new electric provider. Congratulations! You have exercised your power to choose and made the switch.  

As far as change – nothing much really changes except as who sends you a bill. The same Texas electric delivery company will maintain and deliver you your electricity. If there is ever a power outage, they will still come and fix it for your block. Look at it this way, if your electricity goes out does it only go out for you and not your neighbor? No. You and your neighbors are connected to an electricity grid and more closely to a transformer. That Texas electricity delivery company is still going to go out and fix that same transformer that blew and turn the power back on for everyone that was affected. Not just for those that have not switched. They don’t know nor do they care where you get your power. They have a job to do and it is to get your electricity turned back on. It’s that simple.   Even if you don’t make a switch to another provider, do the research and find out your options. Maybe you don’t want to switch and want to stay with your current electric provider but would like to purchase cleaner renewable electricity. Chances are, your current electric company offers a renewable energy product for your home. Do the right thing, exercise your power to choose today.

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