deregulation
//diːˌrɛɡjʊˈleɪʃən//
Noun
1
The process of removing or reducing government regulations and restrictions in a particular industry or sector, typically to promote competition and economic efficiency.
The deregulation of the telecommunications industry led to lower prices for consumers.
2
The state or condition resulting from the removal of regulatory controls.
The energy market has been in a state of deregulation since the new law was passed.