About National Energy Shopping Day
Who: Retail Energy Supply Association (RESA) – a group of retail energy suppliers who share one common mission: competitive retail energy markets deliver a more efficient, customer-oriented outcome than a regulated utility structure. RESA is devoted to working with all stakeholders to promote vibrant and sustainable competitive retail energy markets for residential, commercial and industrial consumers.
What: National Energy Shopping Day
An important part of American life is our right to make choices – from what we say, to where we live, and even what we purchase. However, when it comes to energy, not all Americans enjoy the same freedoms. Currently, only 13 states and Washington, D.C. allow consumers to choose how they heat their home or power their business.
Just as consumers can shop for a phone plan or a gallon of milk, they should also have the right to pick their power. National Energy Shopping Day is a reminder for those who enjoy the freedom to pick the energy plan that best suits their lives, families, and even the environment. Equally important, it gives a voice to consumers who believe they too, deserve the right to choose.
When: June 24
Where: The U.S.
Why: A competitively priced retail market grants families, businesses and manufacturers the power to
choose. Consumers are able to find energy solutions that are right for their needs and take control of their energy costs. In return, suppliers are more attentive to customer needs as they are eager to obtain – and maintain – their business. This ultimately spurs the creation of innovative energy solutions tailored to individual customers.
How: Shopping made easy by visiting our resource center.
The Benefits of Competitive Retail Energy Markets
What Are Retail Energy Markets & Why Are They Important
Retail energy markets allow consumers to choose among competitive suppliers and determine for themselves what energy supplier best serves their home or business. Competitive markets provide energy consumers with many options in terms of energy management, efficiency, renewable “green” energy, and price. Just as most consumers can choose from a variety of Internet or telephone service providers, consumers in many states can now choose an electricity and natural gas supplier for their home or business. This choice is a significant change over traditional utility service, in which an energy consumer has no choice but to purchase from a monopoly utility service provider offering few or no options in terms of energy management tools, renewable energy and efficiency, and pricing.
A Drive Toward Innovation
In order to compete with other companies for customers, suppliers are driven to innovate. This innovation has fostered the development of “green” energy, time-of-use pricing, and energy efficiency programs. In addition, the creation of demand response programs allows customers to participate in competitive wholesale power markets by receiving payments to curb usage during periods of intense demand. These programs help all customers as it is less costly to curb demand than to build new generation resources to meet peak demand.
A Choice for the Consumer
Retail energy choice is fundamentally different from traditional monopoly-protected and price-regulated electricity utility companies, which have no competitors and are guaranteed a profit through government-derived rate structures. These utilities have no incentive to be attentive to consumer needs as they are guaranteed customers and profit. While monopoly utilities have little incentive to cut costs or offer innovative products and services, a competitive market does just the opposite.
Why RESA Supports Energy Choice
RESA recognizes the critical role that substantive, practical, fair and workable consumer protection and marketing practices play in promoting a robust and sustainable competitive retail market that provides value-added products and services to customers. RESA member companies are committed to meeting and promoting a set of guiding principles addressing consumer protection and marketing practices.
How Does Service Change with a Competitive Supplier
When you choose a competitive supplier, you will still have that energy delivered by your traditional utility company and typically will continue to receive a consolidated bill from the utility. What will change is the price you pay on the supply portion of your utility bill and the type of electric or gas product you purchase.
As a consumer, you need only select a competitive energy supplier and authorize them to make the switch. The reliability of your service will remain the same. The local utility company will continue to be responsible for any power outages or other emergencies.
Like choosing a cell phone service provider, selecting a competitive energy supplier requires a contract between you and the supplier. Always be sure to read and understand all the terms and conditions of your contract. You can enter into a contract with a retail electric or natural gas supplier in several ways.
Some examples include:
1. Enrolling online and accepting contract terms and conditions electronically; or
2. Signing a written contract; or
3. Providing a recorded verbal consent (also known as third-party verification) to contract
terms and conditions.
While it can be as easy as contracting through one of the three methods above, keep in mind that written contracts, especially those that result from direct solicitation, sometimes also require third-party verification for your protection.