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New York Residential Electric Rates

 

list of energy suppliers in new yorkFor over two decades, New York residents have had the ability to switch electric suppliers. We have gathered all the important information about the cost of energy in New York, how to compare electric rates and how to select the right energy plan.

Comparing Electricity Rates in New York

The  New York official state government service for energy comparison is called NYS Power to Choose. In it, residents searching for cheaper electricity or gas can see the New York electricity rates and offers available in their area by competitive retail providers.

All you need to do is look below and select the energy plan that best fits your needs. You can choose from electricity, gas and also 100% green energy plans. One thing to keep in mind is your energy usage! The energy rate offers are linked to specific monthly usage, so you should always check the estimated usage for the advertised rate.

You can also search for New York electric rates on our website. We carefully vet retail electric suppliers and review them not only based on price, but also on the quality of service and the extras that they offer to customers.




New York Energy Market Overview

The state of New York is full of contrasts – from the densely populated metropolitan areas of New York City, you can drive a few hours and be surrounded by rugged mountains and plentiful land. The contracts apply to electricity as well – New Yorkers have the 7th lowest average usage in the US and yet they are slapped with third-highest average electricity rates in the nation.

To balance out the high cost of electricity, the New York State Public Service Commission (PSC) deregulated the NY energy industry in 1996 which gave its residents more choices. Even though electricity is still transported and distributed to your house by the state-owned utilities, including Consolidated Edison, National Grid or NYSEG; you can select who supplies your energy based on a competitive price.

The average retail electricity price that New Yorkers pay is 14.83 cents/kWh, as compared to the US national average of 10.53 cents/kWh. And additional price hikes are yet to come – starting in January 2020, the state utility Con Ed proposed a 13% electric rates increase over the next three years and another state utility, New York State Electric & Gas Corporation (NYSEG) proposed similar increases.

Utility Companies in New York

There are a few utility companies servicing New York. Depending on which one of them serves your area, you get charged different electricity rates. If they are your utility provider, you are able to compare their rates against the retail electric suppliers and, when you find an irresistible offer, simply make the switch.

New York State Electric and Gas (NYSEG)

new york power to choose

  • Service area: Approximately 877,000 electricity customers in central, eastern, and western New York
  • Customer service number: 1-800-572-111
  • Price to compare: 7.21 ¢ / kWh

Consolidated Edison

esco electricity supply charges

  • Service area: All of New York City, and Westchester County, located directly north of New York City
  • Customer service number: 1-800-752-6633
  • Price to compare: 8.50 ¢ / kWh

National Grid

power to choose ny

  • Service area: Majority of northern and eastern New York
  • Customer service number: 1-800-322-3223
  • Price to compare: 12.67 ¢ / kWh

Orange & Rockland

nys esco list

  • Service area: Communities in Orange, Rockland, and Sullivan counties in New York
  • Customer service number: 1-877-434-4100
  • Price to compare: 7.07 ¢ / kWh

Central Hudson

national grid esco cost comparison

  • Service area: Approximately 300,000 electric customers a defined service territory of New York State’s Mid-Hudson River Valley
  • Customer service number: 1-800-527-2714
  • Price to compare: 5.67 ¢ / kWh

Energy Plans & Products in New York

Energy plans are like shoes. One size does not fit all. Navigating through complex information about power rates can be confusing and can ultimately deter you from shopping for a better deal. Below is all you need to know about the different energy products that power companies offer to New Yorkers:

PlanDescriptionWhat's Good?What's Bad?
Fixed Rate Your unit price for gas and electricity will remain the same for the duration of the plan
  • Protection against supplier’s price hikes
  • Usually cheapest
  • Often carry cancellation fees, if you want to exit early
Variable RateYour per-unit gas and electricity costs can vary at the discretion of your supplier
  • More flexible than fixed-rate, can exit without incurring fees
  • More expensive than fixed rates
  • Supplier is free to hike up the price
Green / Renewable EnergyOn this plan, your supplier will match the energy you consume by buying an equal amount from renewable generators
  • A great option for the environmentally-conscious New Yorkers
  • Renewable energy still costs a bit more than non-renewable energy (though the good feeling is priceless)
PrepaidThis plan lets you pre-purchase power for your home at a set price, like a prepaid cell phone
  • Reduced chance of a bill shock at the end of the month
  • If you are forgetful and don’t update your plan, you might find yourself without power half-way through shower

Renewable Energy Credits (RECs)

By purchasing 1 REC, you purchase the environmental benefits of 1MWh of renewable energy generation

Reputational gains and compliance targets for businesses with a mandated renewable obligation

There are no real downsides -RECs are fairly cheap and the system is secured and tightly monitored.

FAQs

Below are answers to some of the questions you might have about New York electricity.

How much is electricity in NYC?

New York City has some of the highest electricity rates in the US, surpassed only by Hawaii. On average, residential customers can expect to pay over 21 cents per kilowatt-hour for electricity.

What is a good price for electricity per kWh?

The best electric rate is tailored to the specific needs of the customer. You can compare the rates, available for your area on NYS Power to Choose or simply enter your zip code on our website.

What is the electricity supply charge?

The electric supply charge is the price you pay per kilowatt-hour for the electricity you use in your home. The price is determined by whom you choose as your supplier, whether it be a retail electric supplier or the default utility company.

Residential electricity rates in New York rank the third highest in the nation, despite New York’s fairly low residential energy consumption. Why continue paying high rates in a state with deregulated energy where many competitive retail providers fight for New Yorkers’ business? Comparing the available electricity offers and switching is free, so if you live in New York and you haven’t yet, give it a go!

 

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