Taking a look from 1995 to today, let’s see how deregulated energy has been successful in Illinois:

What is energy deregulation?

In a regulated energy market, energy consumers only have one option when it comes to receiving their power—there is no agency and no choices. However, in a deregulated energy system, consumers are afforded the ability to choose their energy provider. The result is competition among energy companies that want to appeal to as many energy consumers as possible, which ultimately drives down the overall price of electricity in those areas.

Illinois’s history of energy deregulation

Energy deregulation in Illinois began in 1995, when Illinois Power Co. president and CEO Larry D. Habb told his colleagues during a meeting that the state should embrace energy deregulation to pave the way for energy savings in Illinois. It took a few years for the political wheels to begin moving, but they wouldn’t be stopped after their slow start.

In 1997, the Prarie State saw the creation of the Illinois Electric Service Customer Choice and Rate Relief Law. This law deregulated Ameren Illinois Utilities (AIU) and Commonwealth Edison Co. (ComEd), the state’s two biggest monopolies. This law also gave large commercial bodies the ability to purchase electricity the way you can in deregulated states today, but it did not yet provide this benefit to small businesses or residents.

The next 10 years marked a mandatory transition period, changing how electricity production was sold. Residents were finally permitted to purchase electricity in May of 2002, but high rate caps on electricity prices discouraged most retail electric suppliers from serving residential customers.

This all changed in 2006, when the Retail Electric Competition Act was passed by the general assembly, which removed barriers to competition among retail electricity suppliers. It also gave residential customers an incentive to purchase electricity from these retailers with temporary, fixed-discount programs.

There was a scare in 2007, as the lifting of energy price caps resulted in prices soaring, which was greeted with a great deal of criticism and skepticism. However, the passing of the Illinois Power Agency Act and the creation of the Illinois Power Agency (not to mention $1 billion in new electricity rate relief) eased these concerns.

Thanks to a 2008 pilot program, the first residential customers left their utilities and switch to a retail electricity supplier! Residential adoption of retail suppliers rose slowly, but eventually hit its stride in 2011.

In 2015, Star Energy Partners expanded its service territory to include Illinois, giving consumers greater choice and control over their energy costs and impact on the environment. The rest, you might say, is history!

Click here to learn more about the benefits of energy deregulation!

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“At Star Energy Partners, we’re building an industry by making it easier for consumers and businesses to make confident decisions,” said Tony Banks, CEO of Star Energy Partners. “We want to encourage customers in the PSEG, JCP&L, and ComEd territories to reassess their options with a qualified energy supplier such as Star Energy Partners.”

We’re excited to offer our fixed-rate, price-protected options to the residents of New Jersey and northeastern Illinois. In New Jersey, our expanded territory includes customers of the Public Service Enterprise Group (PSEG) and Jersey Central Power & Light (JCP&L); in Illinois, we will serve ComEd customers. Additionally, in the coming months, we are expecting to expand our services across the entire state of Illinois!

“Star Energy’s expansion into the New Jersey and Illinois markets means we can add choice and value, in addition to price protection and peace of mind, for our residential and business customers,” Banks added. “As Star continues to grow, we’ll continue to offer our customers the most progressive and valuable tools in the industry to help us serve our client and continue to grow our business.”

We offer a full range of options for residential and commercial customers, including traditional and green energy options and fixed-rate price-protection. With a fixed rate, you’ll be protected from fluctuating energy prices, which can change a surprising amount from month-to-month. Click here to learn more about our green energy options!

Our new customers in New Jersey and Illinois will now be able to enjoy the simplicity and convenience of purchasing renewable energy through Star, including:

• Simple process: Receive the same energy bill from the same utility company that you normally would.
• Price Protection: Feel secure with a price-protected fixed rate that won’t increase during the duration of your contract. Period.
• Expertise: With Star Energy Partners, expert advice related to conserving energy, reducing energy costs, and reducing your carbon footprint is just a click or a call away!
• Superior Service: We pride ourselves on our high level of customer service. Our team is ready and willing to help, so give them a shout if you have a question or concern!

Learn more about our expansion by reading the full press release!

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