Pennywise Power

In 2002, the state of Texas implemented a deregulated energy market, which grants consumers the ability to choose their electricity provider. This has led to a competitive environment among providers, resulting in lower energy costs and improved customer service for consumers. However, despite this, many residents of Texas remain unaware of the benefits of deregulation.

The deregulated market operates by allowing consumers to select their preferred electricity provider, rather than being restricted to the utility company that services their area. This creates competition among providers, who must offer competitive rates and plans to attract customers. This competition encourages innovation and improvement in the industry, resulting in improved service and lower costs for consumers.

Consumers can take advantage of this competition by comparing rates and plans from different providers to find the best deal for their needs. They also have the option to switch providers or plans if a better option becomes available.

However, the abundance of energy companies and plans in Texas can make it difficult for consumers to find the best option for them. To mitigate this, there are tools such as SlashPlan, which simplifies the process by comparing live rates from energy companies and displaying them in a single dashboard. It also calculates the final price for each plan, including any hidden fees, to provide a true apples-to-apples comparison. By using such tools, consumers can confidently shop for the best energy rate available to them.