In 2017 Orange and Rockland electricity customers from New York saw high fluctuations on the price they paid for power supply. The swings were a result from the O&R price to compare changes which saw a low of $0.05093 in March of 2017 to a high of $0.1131 in the same year. In just one month customers on the O&R default price saw a 72% increase on their electricity supply rate from the previous month – March to April 2017. The inability to predict what Orange & Rockland will charge for electricity supply on a given month has resulted in many consumers to take a closer look at their options presented by New York Energy Choice laws.
Most consumers in New York now understand that energy choice laws provide consumers the option to shop for competitive electricity and natural rates to replace their local utilities default price, also known as the price to compare. The aspect of energy choice in New York that is not as well understood is exactly why someone would want to switch energy suppliers. The answer to that question lies in understanding the Orange and Rockland price to compare for electricity and natural gas supply.
In contrast to many other successful energy choice markets, Orange & Rockland default prices change on a monthly basis instead of a few times a year. For example, in Massachusetts where electricity choice awareness and participation has grown tremendously in recent years, the major electric utilities only changed their default prices twice a year. By only changing the default price two times a year customers have a base price to compare the competitive rate offers against. Someone who is paying a default price of $0.10 per KWh and is offered a competitive price of $0.09 can clearly see that they will save 10% on their electric bill at least for the next few months by simply switching energy suppliers. In Orange & Rockland, this is not easily calculated by consumers as the default price changes each month, and has changed drastically from one month to the next in recent years.
However, by keeping up with the 12 month average of the Orange & Rockland price to compare, customers can get a better understanding of what they have been paying for power supply and what they can expect to keep paying if they remain on default service. Over the last year, from January of 2017 to January of 2018, the 12 month running average of the default price has steadily increased by 11.64 % ending up at $0.08832 per KWh. With competitive New York energy suppliers offering electricity rates as low as $0.065, representing a 26% savings versus the price to compare, it is becoming clearer to Orange & Rockland residential customers that participating in the electricity choice market is a wise decision.
Consumers can compare Orange & Rockland residential electricity prices below against the current 12 month running average of the price to compare to get a good idea of whether or not money will be saved.