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Inertia serves Illinois for electricity, natural gas, and solar services as a third-party residential and commercial energy broker.
Illinois has a long history of deregulating its energy market, starting in the late 1990s with the passage of the Electric Service Customer Choice and Rate Relief Law of 1997. This law allowed customers to choose their own electricity suppliers, breaking the monopoly of the state's utilities. The goal of deregulation was to create a more competitive market that would lead to lower prices and increased innovation in the energy sector.
The Illinois deregulation of natural gas followed a similar timeline, with the passage of the Illinois Natural Gas Consumer Choice Law in 1999. This law allowed natural gas customers to choose their own suppliers, creating a more competitive market and giving customers greater control over their energy choices.
While deregulation had some positive effects on the energy market in Illinois, it also had its downsides. In the early years of deregulation, many customers were lured in by low introductory rates, only to be hit with much higher prices after the introductory period ended. This led to a lot of dissatisfaction among customers and calls for greater regulation to protect consumers.
The state responded by creating the Illinois Commerce Commission (ICC), which was tasked with regulating the state's energy market and ensuring that customers were protected from unscrupulous suppliers. The ICC has the authority to investigate complaints from customers, issue fines and penalties, and revoke the licenses of suppliers who engage in fraudulent or deceptive practices.
Today, Illinois has a more stable and well-regulated energy market, with a wide range of suppliers offering competitive rates and innovative energy solutions. While there are still occasional complaints and issues with suppliers, the ICC has done a good job of keeping the market fair and protecting consumers from harm.
In conclusion, the deregulation of the energy market in Illinois has been a mixed bag, with both positive and negative effects on consumers. However, with the proper regulations in place, the market has become more competitive and innovative, which has led to lower prices and more choice for customers.
Contact us today for assistance navigating the maze of deregulation!
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