Energy Deregulation Burns Poorest Consumers

So, maybe deregulation of the power industry ain’t always a good thing? At least, not after reading the WSJ’s “Deregulation Aimed to Lower Home-Power Bills. For Many, It Didn’t.” We’re told, home energy bills often went up, especially in poorer inner city neighborhoods.

In fact, the WSJ study shows “in nearly every state privately-owned energy companies charged more than their incumbent utilities from 2015-2019. Consumers on retail plans paid $1.9 billion extra in Pa & $1.7 billion in NY…In 2019 [alone], consumers paid $3.1 billion more in DC & 13 other states…or….14% more” than they would have had the “independents” weren’t in charge and doing the charging.

How could that be, you ask? Especially since, commercial concerns in the same zip codes actually faired well on their energy bills (thanks to ‘bulk’ purchasing power)? It’s complicated, the industry says. But, it comes down to some “bad actors,” BS marketing, Bait & Switch lingo in contract small print & costly new technology that either didn’t pan out or needed further development. The experts’ advice: “Consumers need to do a better job at shopping for the best price.” Another reaction from a consumer: “Kiss my electric meter.”

Davd Soul