Energy Lock – Fixed Full Requirements
Energy Lock product is a full swing, fixed price product that promotes price and budget certainty by offering protection against market volatility.
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In the late ’90s, Illinois began restructuring its energy market which would eventually allowed consumers to choose their energy supplier. In 1997 Illinois passed two major laws, Electric Service Customer Choice and Rate Relief Law. These played a pivotal role in opening the deregulation of electric utilities.
From 1997 through 2007 was known as the Mandatory Transition Period, the power to choose an electric provider was reserved mostly for large commercial and industrial customers. However, in 2006 this began to change with the Retail Electric Competition Act. The act established the Office of Retail Market Development, removed certain barriers to competition and encouraged residential and small business customers to switch to an alternative electric provider by promoting temporary, fixed-discount programs.
In 2016 roughly 75% of electricity in Illinois was supplied by competitive suppliers.
Illinois is part of the PJM Interconnection, a regional transmission organization (RTO) that coordinates the movement of wholesale electricity in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia.