Electricity is the most common form of energy used to power the lighting, appliances, electronics, heating, and cooling in the home. Because of that, the majority of homes require an electric provider to supply that energy. The United States is split up into two primary markets for electricity distribution, regulated and deregulated. About 2/3s of the states are in regulated markets and ⅓ of the states are deregulated. Regulated markets make choosing an electricity provider simple because homes in regulated markets simply don’t have options. Deregulated markets often make choosing an electricity provider virtually impossible offering hundreds of options, plans, and prices.
My Utilities understands that the process of choosing electricity providers can feel complicated and that is why we want to make it easy for you. Unlike the average person who moves a couple times in their lifetime, My Utilities helps hundreds of movers every single day. We are experts on electricity, electricity rates, electricity providers, what works best in which areas, and how to find you the best deals.
If you are in a Deregulated market, you have options! If you live in a deregulated market there is one provider that owns, hosts, supplies and distributes all the power infrastructures associated with the electricity in your area. This one provider is called a “local utility”. When electricity is generated and pushed into the grid for distribution the electricity providers that we see commercials for on tv buy the energy at wholesale from the suppliers and resell it to consumers. With numerous providers reselling this electricity there is a great opportunity for the consumer. With more options there are more ways to save; on the flip side, with more options, there is also a higher likelihood that consumers will overpay. Each provider has a unique way of spinning their plans, pricing, and offerings to attempt to meet consumers' needs.
Shameless plug: My Utilities understands that comparing electricity plans can be confusing. Over the years we have seen the majority of people in deregulated areas overpay on their services unnecessarily. My Utilities exists to simplify the process of setting up utilities by educating consumers to make the most informed purchase decisions possible.
To get you started on the right foot as you compare your electricity option on myutiltiies.com here are three crucial tips for deregulated markets:
3 Tips To Shop Electricity In Deregulated Markets
- The most important thing to understand before signing a contract with a particular electricity provider is that all energy that comes from a particular grid is equal. No matter which provider you choose you will have the same local utility responsible for maintaining and repairing lines that provide the electric service to your home. The many electricity providers in deregulated areas grant consumers competitive pricing to sift through and customize for individual needs.
- The second most important thing to understand and consider when shopping for your electricity provider is the fine print. Electricity providers compete with each other to try and provide various plans so each consumer can benefit from their service, however, many consumers end up getting locked into plans with hidden fees and undesirable prices. Remember no matter how good the marketing is for a company or how snazzy the plans appear, the actual electricity you receive will be the same quality. The fine details are what will truly serve you best.
- The Advisors at MyUtilities will help you understand what plans truly offer so you can make the most informed purchase decision. Once you understand your plan’s offerings you can have your advisor set up your electricity service for you or select your plan on myutilities.com. My Utilities works hard to give you access to unbiased information, the ability to compare plans, and the ease of selecting and connecting your plans all in one place.
States With Deregulated Electricity
- Rhode Island
- New Hampshire
- New Jersey
- New York
- Washington (DC)
*Texas has a deregulated market in 85% of Texas
Confusing Lingo in the Electricity Industry
What is an EFL?
An EFL is an Electricity Fact Label that explains the pricing and details of electricity plans. Every retail electricity provider is required to provide an EFL to its consumers. My Utilities technology and Advisors study the EFLs in order for our users to clearly understand their options.
Electricity rates are measured by kilowatt-hours. Each electricity provider will display your pricing plans by kWhs. Typically the prices per kWh will range from five to fifteen cents per kWh. Understanding your usage and the algorithms that affect your rates can be extremely confusing no matter which provider you choose. The Advisors at My Utilities study the rates to bring consumers clarity. My Utilities created a calculator that estimates your home’s kWh usage based on square footage and the rates used across the nation.
Regulated markets are areas where there is one company called the “Utility”, that owns all the infrastructure associated with the supply and distribution of your electricity and unlike deregulated markets that local utility sells it directly to the consumer as well. There is no middle man in regulated areas. This makes it easy for the consumer if there is ever an issue with your electricity because your direct provider will know the answer and hopefully solve the problem. With a regulated energy market, the “Utility” chooses the price and it is fixed there until they change it. You can’t choose your price in a regulated market but at least you know you are getting the best deal available to you!
Regulated Markets provide one option at each home but the tricky part about regulated markets is discovering the boundaries that each company services. Even if a particular state is regulated, it will still have multiple companies within the state servicing different homes. You might have one particular provider and your next-door neighbor might have a different one. My Utilities simplifies the hunt and shows you your provider based on your exact address. With My Utilities you don’t have to call around or search various websites, we have already done the work for you. Type in your address to MyUtiltiies.com and you can see your provider and connect your services in one easy place.
Whether you are using My Utilities because you are moving to a new home, or shopping to find a better rate we are equipped to make connecting your electricity simple for you. Whether you are in a regulated market and have one option for electricity or in a deregulated market and have one hundred options you can get all the facts and connect your service in one place at MyUtilities.com. We take care of processing the connection of your electrical service so you don’t have to waste time on hold, talking with various providers or worry about getting upsold on different plans.
Visit the home page at MyUtilities.com, enter your address and see your electricity provider options instantly. Select your power provider in one click and we will take care of making your connections so the power at your house will be on exactly when you need it. It’s simple… and fun.
States With Regulated Electricity
- New Mexico
- North Carolina
- North Dakota
- South Carolina
- South Dakota
- West Virginia