Innovative online brokerage platform Power Kiosk is opening up the benefits of the deregulated energy industry to consumers and brokers alike.
How Energy Deregulation Works For You
Contributed by | Power Kiosk
When you think of deregulation you’ll often picture a corporate environment with a host of complex negotiations going on in the background. It’s a world that many of us find hard to pin down, define, and explain, but it really doesn’t have to be like that. To give you a fresh insight into the current state of the energy industry, we’ve put together all of the basics into a simple 3-minute read that will tell you all about the key ways energy deregulation works for you. But first, there’s a question we need to answer.
What is Energy Deregulation?
Energy deregulation is a set of rules that change your electricity and natural gas supply options. In the past there would be 1 supplier in each state, and they would be chosen by the state. This meant the hardworking residents would have no choice about who to get their energy from, and would be forced into helping fund a monopoly.
This all changed with deregulation, whereby multiple suppliers were able to enter the market, and consumers would have the freedom to choose which one to go with. It’s all about giving consumers as many options as possible when it comes to sourcing their energy. If you want to define energy regulation in a single world, it would be ‘choice.’
Opening Up New Opportunities
It’s not just residential and commercial customers that deregulation helps, but the energy broker industry too. With the huge new influx of suppliers entering the market creating complicated, dynamic options, the demand for a middleman grew: the energy broker.
Whilst most middlemen get in the way and slow things down, energy brokers actually facilitate the transaction by helping customers find the best deal. It’s a dynamic and forward-thinking role which requires the ability to identify client requirements combined with keen market awareness — something that’s greatly enhanced by having the right tools at your disposal. Given the large number of suppliers populating the marketplace, having the right tools has never been more important.
Power Kiosk Simplifies Everything
Embarking on a career as an energy broker may seem like a daunting prospect given the level of competition that tends to flow into newly deregulated markets. Whether you’re an experienced broker, new to the market, or somewhere in between — it’s clear that you need real-time access to the very latest rates and tariffs to be able to compete. Without this crucial data you’re not going to be able to give the accurate and timely advice that allows you to build a loyal base of repeat clients. This is afterall, a long term relationship business.
Power Kiosk is a platform that empowers every broker by giving them access to all of the information and back office tools needed, and all for just a simple monthly or annual subscription. It’s what allows anyone to grow their business, and it’s what ensures every client gets value for money when it comes to purchasing energy.
The Issue of Licensing
As with many professions, you need to have a license to be able to do business as a broker. Currently 18 states require licensing, and it costs anywhere from $50 to $1,000. This might sound like a formality, but when you factor in the cost and time taken it can quickly start to look like an obstacle that will greatly decelerate the growth of your business.
With growth in mind, Power Kiosk operates as a licensed broker aggregator, allowing anyone to trade under their license as part of their monthly subscription. This means time and money saved not having to apply for individual licenses on a state-by-state basis when you’re looking to accelerate the expansion process, allowing you to scale.
A spokesperson for Power Kiosk said, “Our goal has always been to show people how energy deregulation can work for them. For us it’s not enough to put consumers in touch with the best deal, we also help energy brokers grow themselves by making it so much easier to expand into new territories and locations. It’s our goal to continue to lead our industry, and as such we’re constantly adding new features and functionality to our platform.”
It’s an approach that allows professionals from the energy sector, or related verticals, to start a side career as an energy broker with minimal upfront expense and risk.
How Does Deregulation Affect Me?
It used to be that we had only 1 supplier per state, and it was chosen by the state itself. This was a centralized system or monopoly that could often stultify innovative and creativity. Then deregulation opened everything up so that dozens of suppliers could enter any given market. This provided enhanced choice, competition, and therefore more competitive prices for everyone.
How Do I Save Money On My Energy Bills?
The key is to make the most of the choices available to you by comparing the various deals on offer. There will be aspects of many different suppliers that are appealing, which can make it hard to know which option to choose. By partnering with a broker you can find a deal that’s right for you, at a price that you’re happy to pay.
How Can I Make Money As a Broker?
As a broker you will receive a commission of anywhere from 1-15% of the total term value of the transaction. This means the larger the deal, the more you will earn. Power Kiosk take care of all the commission processing and allows anyone to start working as a broker by operating under their comprehensive license. This means that you can operate in a variety of different local markets without having to spend time, money, and effort obtaining the individual licenses required to do so. Exactly what you need when you want to make energy deregulation work for you in more ways than one.
The content & opinions in this article are the author’s and do not necessarily represent the views of AltEnergyMag
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