In fact, there are many ways to engage in that struggle against energy markets volatility. Perhaps the most publicized of the many initiatives launched to defend consumers’ interests has been the general shift towards green energy: whether biofuels, wind-, solar- or hydro-electricity, the consumer has got many options available to them that didn’t exist (or weren’t practical) just a few decades ago. Nonetheless, while these developments are encouraging and paint a brighter future for energy consumers, they are still a long way from being able to completely replace conventional energy supply and provision solutions. Within the conventional energy market, there are ways to fight against volatility and secure savings in the long term-such as through enrolling in an energy price protection plan.
Price protections may sound like a strange idea in our so-called free market economy, but in the energy sector they actually fit in quite naturally. Protections are available to residential and commercial energy consumers alike thanks to the nature of the energy market: multiple suppliers able to sell energy through the same provider (your local utility), some of whom have the ability to secure larger blocks of energy supply at fixed prices over a considerable period of time. That is the foundation for consumer energy price protection plans, which are becoming more and more common place throughout the US and Canada, not to mention many other developed nations.
Even when these price protections don’t offer a tremendous decrease in prices, they offer something else that is just as valuable to most heads of household and business owners: a stable and predictable price for a long time (up to five years in some cases) that makes budget planning so much more doable-and accurate. Few essential commodities experience the drastic price fluctuations as occur with energy, and those variations make it nigh on impossible to create a budget and stick to it.
For those with a long term view on the issue of energy prices and the environmental impact of energy production, supporting and purchasing the energy generated through green technologies is going to be a very smart move in the coming years and decades as it will provide increasing incentive to move away from foreign fossil fuels-the source of so much of the volatility of the energy market to begin with.