The latest in modern technology.
As of March 31, California became the first state to fully deregulate its electric power industry. Customers can now choose to either stay with their current electric utility company or purchase electricity directly from a nonutility provider. Aside from the 10 per-cent rate reduction residential and small-business customers will receive regardless of whether or not they switch, homebased business owners in California have plenty to be happy about, says Dianne Dienstein of the California Public Utilities Commission.
Because utility distribution companies purchase the electricity they sell to consumers at the Alhambra, California-based California Power Exchange (PX), a competitive auction held on an hourly basis, customers can choose to be billed at an hourly rate that reflects hourly electricity prices at the PX. This rate decreases during off-peak periods as demand for electricity decreases. Customers who opt for the hourly rate billing option (which electricity providers must offer under the provisions of the deregulation bill) instead of a fixed rate stand to see big savings if they schedule their operations during off-peak periods.
Continue reading this article - and everything on Entrepreneur!
Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.
Get 3 months free with code zendesk
Presented by Zendesk
Entrepreneur Editors' Picks
Zooey Deschanel Embraces the Word 'Quirky' and Thinks Businesses Should Too
A Simple (But Not Easy) Guide to Achieving Almost Any Dream
Making Time to Be 'Useless' Is a Vital Part of Creating Anything Valuable
A Billionaire Who Operates More Than 2,400 Franchises Knows These Types of Franchisees Make the Most Money
How Relentless Optimism Fuels Success for Hilary Schneider, CEO of Shutterfly
The Paradox of Celebrity Tequila
Social Media Was Draining Me, So I Gave It Up. My Business Has Never Been Stronger.