When energy deregulation laws were introduced in several states around the country, many utilities and retail energy providers quickly noted a huge demand for resources that help customers compare electricity prices.
According to FuelFix, these websites provide a long list of retail energy providers with rate plans that are easy to read, allowing customers to compare side by side a number of different electricity rates. In Texas, where residents have been able to choose their electric supplier since deregulation was implemented in 2002, these customers can pick and choose from a number of different independent electric suppliers, such as Direct Energy and Reliant Energy.
However, according to the Electric Reliability Council of Texas, there is still a huge demand for resources that help customers switch energy providers, as nearly half of all residents still receive electricity from their original power providers.
The websites have further increased competition among retail energy providers, which have sought to entice new customers to switch to their services by offering a number of different rewards for switching. This often comes in the form of gift cards, deals on rates or even free electricity for a month.