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Deregulation and IDT Energy

Utilities supplying electricity and gas power to New Yorkers and residents of several other states were deregulated about a decade ago. The intent of the legislative bodies that chose to deregulate the energy markets was so that competition would be fostered among the suppliers, improving service and prices for customers.

In order to understand deregulation it is important to know that energy service has two components, the supply of the energy and its delivery.  Deregulation gave consumers the power to choose their energy supplier, while the delivery of the energy remained within the purview of the established and regulated utilities. This means that today, for many New Yorkers, although Con Edison is still the company that delivers their power, the supplier of energy is determined by the consumer.

IDT Energy is a qualified supplier of energy to the people of New York, and in partnership with local utility companies, which in some cases, but not all, is Con Ed, can supply residents with the energy they need at competitive prices and excellent service.

Although the local utility still delivers the electricity and gas to its customers, consumers have the right to pick the supplier which meets their needs best, helping to drive down prices and improve quality of service. There is no need to do anything other than pick up the phone to make the switch to IDT Energy, or any other supplier of electricity and gas which services your area.

IDT Energy Explains Energy Deregulations

IDT Energy is among many other alternative energy providers in the New York, New Jersey, and Pennsylvania area.  Since energy deregulations have happened more choices like IDT Energy are available.

Today, in New York, New Jersey and Pennsylvania, you have the power to choice your energy supplier.   During the last decade, the Public Service Commissions and State Legislatures, along with local utilities, have deregulated the energy market in these areas.  This allows for healthy competition among suppliers and allows consumers more choice.

The way that it works if you select to work with IDT Energy or another company is as follows.  IDT Energy becomes your supplier of electric and natural gas, while the delivery of this energy is still done through the utility company.  IDT Energy works in partnership with the local utility companies.  Historically, all electricity and natural gas were state-regulated and the price was fixed by them with the local utility company supplying both the supply and delivery.

This deregulation ensures that there is competition for your energy business, and therefore that there are more competitive prices.  This allows people in New York, New Jersey and Pennsylvania to have control over the source of their natural gas and electricity.

IDT Energy Offers Choice

Whenever we consider make purchases, let’s say for a new refrigerator, music center, or washing machine, we carefully compare products, prices, service, how well the product meets our needs, and other aspects. Today we are lucky that because of deregulation in New York consumers can make the same evaluation before choosing their energy provider of natural gas and electricity.

At IDT Energy there exist several options available for its customers to choose from so that the service that they choose is perfectly suited to their individual needs. Included in this decision can be whether or not you want your electricity to come from resources which are renewable and sustainable, which we call “buying green” at IDT Energy.

It is important to understand that your utility bill is composed of two separate parts, one for delivery and the other part for supply. In the case of electricity the two components are about equal, or 50% each of the entire bill. For natural gas more of the cost comes from supply, about 75%, with the remaining 25% going towards the delivery fee.

Until deregulation the state government regulated the price of natural gas and electricity, and the utility company was responsible for both components, supply and delivery. Today the two parts are separate and consumers have been empowered to seek out the best deals they can find on supply.

The local utility will continue to deliver your power and gas, read the meter, and provide service for problems that sometimes arise. The utility is where you turn to deal with emergencies, too.  Your bill will also continue to come from the utility, with the price of both the supply and delivery itemized for your convenience.

Just like you would research the best deals, best service and best quality for anything you might purchase, now you can apply your same high standards to purchase your power for your home, and IDT Energy urges you to consider its 20 years of experience supplying thousands of satisfied customers with electricity and natural gas.

New York City Marches to De-Regulation

There are about 20 different ESCOs in New York City for customers to choose from, in addition to having Con Edison supply power, as in the past.  During the first phase of the multi-phased march towards complete de-regulation which began in June of 1998, almost 76,000 customers from New York City and Westchester County chose an ESCO in place of Con Ed as suppliers of their electricity. However there was a 62,000 limit on the number of customers who were allowed to make the switch, and that was the number that were picked at random and actually were signed up for the ESCO of their choice during phase one.

Power De-Regulation in New York City

The main motivating factor that led New York State to initiate a phased de-regulation program was to decrease costs of electricity and natural gas by increasing competition in the marketplace. The Public Service Commission (PCS) of New York State, which is responsible for the enactment of the legislation that led to de-regulation expected to see stimulation in economic growth, lowering of prices and increased choices for consumers.
Have these goals been met?

IDT Energy – learn more and win!

With the deregulation of the energy industry, the residents of New York State can now make the most of the different energy solutions available on the market. Whereas before you were limited to one supplier of your gas and electricity needs, now you are able to compare the service and the prices of different suppliers in order to make sure you are getting the best for your dollar.

Consider your options very carefully before signing a service agreement, as the savings and quality of service that you may be missing out on are very substantial.

A rising force in the energy industry is IDT Energy, which already has hundreds of thousands of customers throughout New York. To read a bit about IDT Energy, click here.

Make sure to contact IDT Energy before you make any agreements with any other energy companies. Even better, why not take you next utilities bill and give a call to IDT?