Deregulation: Shopping For Your Utility of Choice
Appeared in July 2000 Country Living
Beginning January 1, 2001, some Ohio consumers will begin shopping for electric power. Under an electric deregulation bill passed in 1999, those served by investor owned utilities, such as American Electric Power and First Energy, will choose their power supplier.
Other consumers who are served by electric cooperatives and municipal utilities may be making their decisions based on whether their power company decided to introduce competition for energy supply in their service territory ("opt in") or not to introduce competition ("opt out").
We have this luxury because the state legislature recognized that electric co-ops and municipal utilities were small businesses with specific needs and included a number of special provisions in the legislation to avoid the potential of larger utility companies taking over the small utility companies. In providing these accommodations, the legislators recalled the reasons electric cooperatives had to be formed in the first place.
Hancock-Wood is taking a wait and see approach. An opt out policy for at least one year after the introduction of deregulation will enable HWE to monitor the situation fully and let the dust settle. This initial position is a way to avoid the mistakes that are just a natural part of doing business in a new way. Our top priority is to do what is best for the co-op and its members.
The changes introduced with deregulation afford HWE the opportunity to wait and monitor the industry better. This increased understanding and new opportunities, when coupled with our expanded products and services offered by our subsidiaries, provide you with a complete energy solution.
Our position within the electric and energy industry has never looked brighter. Hancock-Wood welcomes these changes and looks forward to remaining YOUR UTILITY OF CHOICE.
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