[Python] Python 2.7: difference between codecs.open(<f>, 'r', encoding=<enc>) and...

What is the difference between code like this:

with codecs.open(<file path>, 'r', encoding='my_enc') as f:
json.load(f)
string = json['key']


and code like this:

with open(<file path>, 'r') as f:
json.load(f)
string = json['key'].encode('my_enc')


There must be differences since the first doesnt work for my application, but I dont understand why exactly. I feel some misunderstanding of how this encoding stuff works.

I am using Python 2.7 and cannot update it since I receive this environment and I am limited by this.

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