deregulated electricity markets

Deregulated electricity markets allow consumers to choose their electricity providers rather than being limited to a single utility company. In this system, multiple companies generate and sell electricity, competing based on price, service, and renewable options. Prices can fluctuate more frequently, reflecting supply and demand, which can lead to lower costs or more innovation. The goal is to foster competition, improve efficiency, and give consumers more choice. However, it also requires careful regulation to ensure fair pricing and reliability of supply, balancing market dynamics with consumer protection.