Right at the beginning of the year 2002, the State Legislature of Texas made a significant decision to deregulate the electricity market in the state. It means the supply of electricity within the state would now be open to a lot of competition, and a huge variety of choices.
Before the year 1975, all the cities in Texas used to regulate their electric utilities. This included adjusting the services as well as the rates they had to pay for the services. But then in 1975, the PURA (Public Utility Regulatory Act) came into being. This act enforced by the Texas Legislature aimed at giving more control and power to the state for regulating all the aspects of its electric utilities.
Since the cities in Texas already were controlling their rates and services, this act remained stationary and was not taken as seriously as they would have hoped. With a lot of monopoly playing out in the energy markets, PURA was not able to make a fair and reasonable market for the energy consumers of Texas. There were many reasons why the PURA was unsuccessful, and the energy consumption pattern was the most prominent one. The energy markets were also inflated, which resulted in the rates of electricity to rise.
In the year 1995, energy in Texas was finally deregulated, primarily due to the passing of Bill 373. This bill is passing resulted in significant changes in the ERCOT (Electric Reliability Council of Texas). After this, the utilities of Texas were required to give access to the transmission capabilities to independent energy generators. These utilities also needed to keep a check on the new suppliers since the unregulated market resulted in many different suppliers emerging.
There are many advantages to having deregulated energy, and some of the biggest benefits are:
Now homes and businesses can opt for energy plans that fulfill their energy needs. They no longer have to adhere to the standard rates. They can assess their energy needs and only pay for how much energy they use. This leads to a great deal of energy as well as money savings.
Thanks to a variety of energy suppliers coming up, consumers can choose from a wide range of companies offering different types of energy plans. They can choose from fixed-rate plans, floating plans, or even hybrid plans. The power to choose is very empowering, and every citizen deserves to select their source of power and pay only for how much energy they use.
Consumers who care about greener energy options can now support eco-friendly energy suppliers. Solar and wind energy suppliers are now becoming increasingly popular. Consumers can switch their home or business to a greener energy source, and also reduce their carbon footprint.
Switching from one energy company to another has never been simpler! You can check out our website and select a new plan from a new energy company, and we will work on the rest. And the best part, your energy services will face absolutely no interruption.
The increase in competition has resulted in companies continually upping their game. This means that the quality of customer care has gone up tremendously.
If you want to know about all the different electricity providers in Texas, then you must reach out to a reputed energy procurement service like Navigate Power. Contact Navigate Power by dropping us an email at [email protected].
