Energy Choice: A Powerful Solution to Rising Energy Costs

A recent CNET survey revealed that 78% of Americans are stressed about high energy bills, with 25% feeling “very stressed.” This financial strain is prompting many to seek solutions to manage and reduce their energy expenses, including 32% of consumers who need to borrow money, set up a payment plan, or put their payment on a credit card to afford their energy bills.

For consumers in restructured states, one solution is to take advantage of the ability to shop for energy plans and products that offer competitive pricing and greater flexibility.

Understanding Energy Choice in Restructured States

In the U.S., 14 states and the District of Columbia allow consumers to choose their electricity and natural gas suppliers. Retail choice allows suppliers to offer different energy packages, providing consumers with a choice of who they purchase energy from. This competitive landscape empowers consumers to select energy plans that align with their budget, preferences, and values, rather than being confined to a “one size fits all” monopoly utility provider.

Benefits of Shopping for Energy

1. Potential Cost Savings: By comparing different energy suppliers, consumers can find competitive rates that may be lower than their current plans. Even modest monthly savings can accumulate significantly over time. 
2. Customized Plans: Energy choice allows consumers to select plans that fit their specific needs, including options for renewable energy, fixed or variable rates, and contract lengths. 
3. Improved Customer Service: Competition among suppliers often leads to improved customer service and innovative offerings, ultimately providing consumers with a better, more comprehensive, and satisfying experience.   

The Importance of Regularly Reviewing Energy Plans

Energy markets are dynamic, with rates and offerings changing over time. Regularly reviewing and comparing energy plans ensures consumers are taking advantage of the best available options. This proactive approach can lead to substantial savings and better alignment with personal energy consumption patterns.  

The power of choice offers a viable solution in restructured states. By proactively shopping for energy and selecting plans that best suit their individual needs, consumers can take control of their energy costs.

For more information on energy choice and to explore available options in your state, visit the Retail Energy Supply Association’s website for consumers at https://www.resausa.org/for-consumers/energy-shopping-101/.