Deregulation Puts Consumers in the Driver’s Seat

Posted by: admin  :  Category: deregulation, Electricity, ESCO, IDT Energy

drivers-seatThe New York Public Service Commission (PSC) agrees with IDT Energy that competition is good for consumers of energy. As opposed to monopolies and regulators who decide how to meet the energy needs of consumers and who set prices, deregulation and competition increase efficiency, inspire innovation and creativity, and provide value for customers.
According to the Department of Public Service in a report on the condition of wholesale and retail competitive energy markets it was clear that New York’s competitive energy markets were increasing efficiencies and keeping prices down.

To quote the chairman of the New York State Public Service Commission, William M. Flynn:

“The one-size-fits-all approach that traditional utility regulation offered is insufficient to meet the diverse needs and demands of today’s customers. Competition creates customer choice, which suppresses prices and forces market participants to innovate as customers shop for better deals. In the end, competition puts customers in the driver’s seat. From my perspective, that’s where they belong.”

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