Compare Electricity Prices in New York

In 1998, energy deregulation in New York transformed the state’s energy landscape by introducing competition between energy suppliers and allowing residents and businesses the power to choose. This decision meant that utility companies no longer monopolized the areas they served. Instead, competition between energy service companies (ESCOs) was permitted. Deregulation can lead to cost savings and improved service for customers. ESCOs in New York have innovated to offer a variety of plans, such as green energy options. 

You can compare ESCO rates using the Choose Energy marketplace. Enter your ZIP code to find the best electric suppliers in New York.

While you can remain on your local utility company’s plan, shopping and comparing energy rates from ESCOs in New York to find a cheaper rate can help you save money on your monthly electric bills. If you do not choose an ESCO, your utility will automatically supply you with a Standard Offer Service (SOS). The SOS rate is also your area’s price to compare when shopping for a new plan. 

The New York Public Service Commission (PSC) oversees the deregulated marketplace, approves licenses for ESCOs, and regulates utility prices. It also runs the New York Power to Choose program. This initiative informs residents about their energy choices.

The Choose Energy marketplace offers an ESCO comparison tool to help you find the cheapest energy supplier in New York. Enter your ZIP code on this page to explore energy plans near you.

You have many options when picking your electricity provider and plan in New York. Understanding the Electricity Facts Label (EFL) is key to finding a cheap energy plan in New York. The EFL provides key information about the plan you’re considering, including the type of rate, the amount of energy from green sources, and more. The following explains energy plan types you may find on the Choose Energy marketplace. 

• Fixed-rate: These plans give you a set price for your electricity for the duration of the contract. With a fixed-rate plan, you have more stability since your rate is not subject to market fluctuations. A fixed-rate plan may have a higher rate per kilowatt-hour (kWh) than a variable-rate plan, but the overall price could be cheaper in the long run because you will not have rate increases. 
• Variable rate: Under a variable-rate plan, your rate fluctuates based on the energy market. You can save money with a variable-rate plan when demand is low. However, if demand spikes, your bill could increase sharply. Variable-rate plans do not have a fixed-term contract, so you can cancel anytime.
• Prepaid: Prepaid electricity plans are popular because you won’t have to pay a deposit or go through a credit check. You only pay for as much energy as you use and can add funds to your account as you need more electricity.
• Renewable energy: Many New York ESCOs offer renewable energy options. However, not all green plans function the same way. Some plans may rely on 100% green energy, while others only obtain a portion of their energy from green sources. When an ESCO offers green energy, they may only get power from solar and wind farms. Alternatively, they may purchase renewable energy credits (RECs) to offset the energy that you use. Review your EFL to determine the green energy percentage of your plan.

The deregulated energy market gives consumers the power to choose their energy supplier, meaning residents and businesses can remain with their area’s utility company or purchase energy from an ESCO in NYC. In either case, your utility is responsible for delivering your electricity and maintaining power lines. If you experience a power outage or have an emergency, contact your utility company. 

The primary utility company in New York is Consolidated Edison Co. (also called Con Ed or Con Edison). If you are searching for Con Edison alternatives in NYC, some other options include:

• Central Hudson Gas & Electric
• National Grid Keyspan
• Rochester Gas & Electric

For a complete list of ESCO companies in New York, visit the New York State website or explore which energy suppliers are available in your area by entering your ZIP code on this page. You can choose from numerous ESCOs, including Constellation, Public Power, and Clearview Energy. Since your utility company will still deliver your power, you will get the same reliable service regardless of your chosen ESCO. You can find a lower electricity rate by selecting a cheap energy company in New York from ChooseEnergy.com. 

New York is among the most expensive states in the nation for electricity, with residents paying an average of 24.51 cents per kWh, according to the latest Energy Information Administration (EIA) data. For reference, the national average is 16.41 cents per kWh. Exercising your energy choice could help you find a cheaper electric rate with the ESCO you prefer.

The Choose Energy marketplace provides helpful resources and a comparison tool to discover the best electricity rates in your area. You can conveniently browse through various rates and filter based on your preferences. Enter your ZIP code to find and sign up for a plan that meets your home or business’s energy needs.

How long does it take to switch energy providers?

Thanks to the Choose Energy marketplace, you can switch to a new provider in a few minutes. Get started by entering your ZIP code. Then, filter the search results and choose your preferred plan. After you fill out some basic personal information to sign up, your new provider will take care of the rest. You shouldn’t notice any interruption during the changeover.

Is a deposit required for my energy plan?

Most plans require you to pay a deposit or undergo a credit check. If you’d rather avoid this step, you can browse our range of no-deposit plans plans for New Yorkers.

How can I reduce my electricity rates?

One of the quickest ways to lower your bill is to reduce your energy usage. Try switching off unused appliances or installing energy-efficient equipment. Another option is to select a new energy provider with a lower rate before renewing your current contract. Finally, you could do an energy audit of your home to find out whether insulation or other upgrades could help you save electricity.