According to the Merriam-Webster Dictionary, deregulation is the act or process of removing rules or regulations. As it applies to electricity, deregulation was sought to aid competition among electricity providers. Congress passed the Public Utility Regulatory Policies Act in 1978, which opened wholesale power markets to non-utility producers of electricity, creating the foundation for electricity deregulation.
With the Energy Policy Act of 1992 , congress tried to promote greater competition in the bulk power market. Through this act, states were allowed to restructure their electric power industry to create more competition. As states across the nation adopt deregulation, they are experiencing varied amounts of success.
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