5 benefits of the abundance of electricity suppliers

Business News | 29 Jan |

Many people do not think about where their energy comes from until their lights will not turn on. But, Americans should know more about the people who literally hold their power.

Fairly recently, this sector has expanded, and in some states, people now get to choose their electricity suppliers from a number of options. Does this make a difference?

5 Advantages of Many Electricity Suppliers

This actually makes a big difference for energy customers. Keep reading to learn 5 perks of multiple energy suppliers.

1. Competition Lowers Rates

You never want one powerhouse business controlling anything, let alone our electricity supply. Allowing one company to monopolize the energy sector means they get to decide the pricing, which never bodes well for the consumer.

Consumers need competitors in the market economy. Adding electricity options shifts out the market supply curve, which drives electricity rates down.

Even better, you get to choose between rates. You can jump in on a low fixed rate one company may offer for a short period and find yourself saving money for the long haul.

2. You Hold Some of the Power

We live in a nation built around the notion of freedom. But, how free do you actually feel when you get no say in who your energy supply comes from?

Monopolies oppress us. Suddenly getting the option to choose empowers the consumer though.

More competition means a greater power to choose. We want consumer choice plans so that men behind closed curtains do not make crucial decisions for us.

3. Solid Security

When an internal problem occurs with one big electric company, who will supply your energy? If they cannot operate then you simply lose electricity until they get back up.

But, if you can choose energy from multiple suppliers, who each use their own grid, then you gain security. In the case of a long-standing problem, you can switch to a working company.

4. Low Employee Wages

A monopoly does not only hurt the consumer. It also impacts the people who work in that field.

When only one company supplies the jobs, the people cannot simply leave for better treatment, pay, or benefits. They must simply accept what they get or change professions.

On the flip side, employees also lose out if this one market giant somehow folds, as do all of the energy customers. They end up in the unemployment line, and you’re left in the dark.

5. The Option for Green Power

Ask, ‘Who is my electric supplier?’ Do you know where or how this company generates your electricity?

Most companies burn fossil fuel, which creates harmful emissions during combustion that play a role in climate change. But, now, depending on where you live, you can choose from geothermal, solar, and wind turbines electricity to lessen your carbon footprint.

Choose Your Power

Choice, always makes you more powerful. Now that you understand the benefits of choosing from multiple electricity suppliers, do your research and take control of your situation.

We want our readers informed and aware. Check out our lifestyle section to learn more about what’s happening in Arizona!

 

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