New State Deregulating Energy Markets
by Keefer Welsh
With the inception of energy deregulation in 1992, various states in the U.S. followed California’s lead and deregulated their own energy markets. Certain states deregulated both electricity and gas, while others picked one or the other. Some areas of the states even opted to remain regulated for a variety of reasons; meaning no state is entirely deregulated. The omnipresent question in the U.S. today is what state will deregulate next.
Massachusetts was the most recent state to allow their consumers to competitively price their energy supply in 2005. And while not every consumer saw immediate savings, they now have the ability to control another price component of their budget to fit their bandwidth. Recently in the state of Virginia, delegates Mark Keam and Lee Ware announced the Virginia Energy Reform Act which looks to create a competitive market for electricity retailers monitored by a state-run nonprofit.
While this bill has yet to be published in the official record, if it does pass, Virginians will be able to competitively price out their energy supply the same as consumers in other deregulated markets. This could have major implications for business across the state as they would now have control over a component of their budget that up until this point, was just another line item.
Atlas will be closely monitoring the progression of this bill and encourage anyone in the state to reach out with any questions they may have on what this would mean for their business and how they can take advantage of this law change.
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