Scott Patterson
speaker
67 appearances
1 recordings
1 series
first heard Feb 2021
last heard Feb 2021
Scott Patterson’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Why Your Electric Bill Might Not Go Down Under Deregulation · 25 Feb 2021
podcast
In theory, that would be the ideal conditions.
If competition would work to lower prices, that would be the best thing for consumers.
But in reality, what's happened is consumers are paying a lot more than they would have if they're in parts of the states that didn't have those retail providers.
It's sort of worked out the exact opposite, and it's kind of hard to know exactly why.
Electricity is really a different beast than telecommunications or cable, which supporters of the industry often compare it to.
They say, you can choose who your cell phone provider is.
How come you can't choose who sends the electricity to your house?
It sounds good, but in reality, it just doesn't seem to work that way.
People sign up for their utility or their electricity provider, and they just kind of ignore it.
They put it on auto pay.
And what seems to be happening is the bills just start creeping higher and higher, and they keep paying, but they don't really know that they're paying more than they really should.
Yeah, there's something to be said for that.
Buyer beware.
In my conversations with people who've signed up to these plans is they don't really understand how an electricity bill works.
They can be complicated.
The charges can be sort of hidden in the back.
You need to look up how much you're paying per kilowatt hour and then compare that to what your utility is providing.
It just...
It just can be confusing, and I think a lot of people ignore it.
And to me, that sort of highlights how electricity is different from most other products that people buy.
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