For a long time, local utilities were the only option consumers had for receiving energy to their homes and businesses. Consumers contacted the utility about gas and electricity services. They had no say when it came to their billing.
Thanks to deregulation, this is not always the case anymore. Many states have now competitive energy markets. This means consumers have more options to save money. Now, instead of the customer going straight to the utility, they have other options.
Let’s look at each of the energy industry participants and the role they play in providing a free energy market.
The Different Roles of Energy Industry Participants
You may be a new broker or live in a deregulated market and want to learn more. Either way, here is everything you know about the energy industry participants.
Although deregulation is becoming more common, many customers that live in these markets may know very little about it. And even customers who live in a deregulated market have the option to continue receiving their energy from their utility.
But energy deregulation means that the customer can not only choose their supplier, they can choose the type of plan they want as well. This is where brokers come in.
The customer will go to a broker because they need gas and electricity for their home or business. Instead of going straight to the utility, they can choose to buy their energy from energy brokers like you.
This is important because if they go to the utility, they only get one price. But when they come to you, they get options and access to market knowledge and industry resources.
As an energy broker, you can provide exceptional customer service that they might not get otherwise. And you can help meet the customer’s need and help them save money through BOX.
- Broker Online Exchange
BOX is one of the leading retail energy service companies. We communicate with brokers and suppliers alike. And we provide brokers like you with access to all deregulated markets as well as access to top-rated energy suppliers.
The supplier buys the energy upfront and supplies the energy to the utility. In every deregulated state, the supplier must be licensed or certified by the state to sell energy.
Your utility sets up the energy flow and distributes it to customers’ homes and businesses. They also handle emergency scenarios so if the customer’s power suddenly went out, they would still contact their utility.
And depending on where the customer lives, they’ll likely receive at least part of their bill from the local utility.
Deregulation laws vary depending on where you live and at this time, there are no states that are entirely deregulated. For that reason, energy deregulation can seem like a confusing topic which is why it is important to keep it simple when talking to the customer.
Broker Online Exchange is committed to helping brokers like you grow their networks. And we help you do this without getting bogged down by tedious paperwork. Contact us today for more information about becoming an energy broker.
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