With energy rates changing as fast as the cycles of energy regulation and deregulation did during the early and mid-nineties, electricity consumers in Illinois owe it to their companies to consult regularly with an independent energy consultant such as National Utilities.
With the help of NUC, businesses can lock in a low rate when renegotiating an existing utility contract with suppliers, thanks to knowledgeable energy professionals with a proven track record of knowing when the time is right to take the best advantage of new rates.
When the Federal Energy Regulatory Commission passed laws in 1989, 1992 and 1995 limiting their authority to wholesale transactions while encouraging states to assume responsibility in regulation and deregulation, states were left to the own set and change their rates. This opened a door allowing considerable abuse of the rate payer, in Illinois and elsewhere.
Like most states transitioning to a competition based energy supply system, Illinois was trapped in a rapid escalation of prices. When state lawmakers passed the Illinois Electric Service Customer Choice and Rate Relief Law of 1997, both Commonwealth Edison (ComEd), and Ameren were faced with the prospect of massive utilities cost increase and wild price fluctuation.
However the competitive market never really emerged and the two Illinois energy giants simply waged their own battle with longtime customers serving as pawns after deregulation. Utilities say markets are still adjusting to many years of artificially low rates that drove potential competitors away. In any case, there has been a free-for-all mentality at play about the cost of actually producing electricity energy and charging fair rates for usage, and new providers are only slowly entering the Illinois market. Whereas deregulation in many other states resulted in lowered rates, it had the inverse affect in a state whose energy rates prior to deregulation had be set artificially low.
Chicago’s electricity supply market has become increasingly competitive with 12 newcomers since 2010, but the first competitor to enter the residential market, BlueStar Energy Solutions LLC, appears to be thriving nevertheless. It remains to be seen how many other energy providers will enter this fairly new market.
National Utilisource is watching; it is poised to track market electricity costs on an almost minute by minute basis, and in Illinois and other where costs are subject to quick adjustments, timing is key to locking in best rates. NUC can help CEOs negotiate or renegotiate with suppliers at the right time, often well before to the expiration of the existing utility contract.
With the help of a qualified energy broker such as National Utilities, businesses can chart a clearer course through the thicket of energy providers and take advantage of significant cost savings. NUC helps business in major markets to know when and how to negotiate new contracts.
Contact National Utilities to find out how your company can benefit from electricity cost savings. We are your National Electricity Commercial Energy Broker.