Public Utility Regulators Adopt Rules to Help Consumers Know if They are Paying Too Much for Energy
Friday, February 21, 2014
State utility regulators has approved new rules aimed at increasing competition and in turn improving energy prices for residential customers.
On Thursday the State Public Service Commission adopted new rules that will force independent energy suppliers to reveal how much they have charged customers in the past.
More than a decade after the PSC created a competitive retail market for electricity and natural gas, residential and small business customers still have difficulty comparing prices from competing suppliers.
In many cases, customers end up paying higher prices by switching to an alternative energy supplier.
The Commission said that large businesses and institutions have benefited from competition among energy suppliers. The PSC's goal is to extend similar benefits to small customers, who are less sophisticated purchasers of energy.
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