For most of the country, energy and power supplies are highly regulated industries. They are so highly regulated that in many cities there is only one option when it comes to choosing from where the energy that powers your home or business is supplied…which, really, negates the whole idea of “choice.” This is not the case in Ohio, though. In Ohio, the energy industry has been deregulated and the doors of choice have been opened.
Deregulation in Ohio isn’t exactly new. They deregulated their energy industry more than a decade ago. The lawmakers who deregulated the state had hoped that by doing away with energy regulation the cost of power would, across the board, drop. What actually has happened, according to an article in The Columbus Dispatch, is that the lower priced providers have increased their rates while the providers with the highest rates have lowered their prices. So, basically—things have stayed the same.
This is why it is so important to be sure to do your research and compare the different rates and the different types of rates offered by the various Ohio power companies. There are lots of places you can do this. You can visit each company’s website or, to save time, you can try one of the comparison websites like www.ohiogascompanies.com.
It’s important when you compare energy prices that you don’t just compare overall prices. You also need to consider other factors, like:
- What types of different rates are being charged: Peak/off-peak/midpeak?
- Are there renewable energy options?
- Do you have to pay an additional price for renewable energy instead of petroleum or crude oil based power?
It can be confusing, figuring out which options are best for you. It’s made even more confusing by the marketing and advertising each company runs. By deregulating the energy industry, the doors of competition were opened and the energy companies have risen to the challenge. In 2012, according to an article in The Toledo Blade, the top energy providers started taking shots at each other through their marketing campaigns. Trying to separate the truth from the ploy can be difficult.
It’s also worth noting that, there is more choice than the one between the traditional power companies. Ohio residents also have the option of choosing to use natural gas to power their homes. Natural gas is still being explored as a viable option in some parts of the country but, in Ohio, it’s quite popular. This is partly because it’s cheaper and easier to have piped in to the house. It’s also because it is an environmentally friendly energy resource and does not hurt the planet to have it vented and sold to individual residents and businesses.
Figuring out which energy company is right for your family or your business can be difficult, for all of the reasons we’ve talked about here. But here’s what makes the deregulation in Ohio so great. If you sign up with one company and find that you hate dealing with them, you can always switch to another. That option alone makes you start thinking about moving to the state, doesn’t it?
