Table of Contents
New York Electricity Prices
New York City is the main business center of the United States and the largest metropolitan area in the country. The city attracts active and ambitious people. Many energy providers either already serve the residents of New York or are planning to enter this attractive market.
The standard of living in New York is very high. Housing, medical and educational prices are substantially higher than in other regions. The cost of electric plans for New York residents is also quite high. The average cost of electricity for residents is close to 25 cents per kilowatt hour (kWh).
Electricity providers offer many electric plans to New York residents and New York businesses. Residents generally use Fixed-Rate plans and Variable-Rate plans. Recently, New York has seen a growing share of electric plans with renewable energy. The high cost of electricity attracts electric companies. Many electric companies are headquartered in New York.
Residential Electricity Plans
Retail electric providers (REPS) in New York City offer residents a wide variety of electric plans with a variety of term lengths and incentives. The cost of electricity can be fixed for a specific term in fixed rate plans. The cost of electricity in variable rate plans usually changes every month. Time-of-Use service includes incentives based on when you use electricity. You can get free electricity at night or on weekends.
- ProviderPlanRateLength
Consolidated Edison CompanySummer Peak17.8¢/kWh-- Consolidated Edison CompanyNon-Summer Peak13.69¢/kWh-
Orange and RocklandChoice 12 New York18¢/kWh12 months
Kiwi EnergyKiwi Guard - Home Protect15.71¢/kWh--
Kiwi EnergyKiwi Green 5015.71¢/kWh-
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Kiwi EnergyKiwi Green 10015.71¢/kWh-
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NRG EnergyNY Renewable Electricity Plan29.13¢/kWh- -
NRG EnergyElectric Plan with Renewable Energy27¢/kWh-
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Payless Energy100% Green ConEd 1219.15¢/kWh12 months -
Payless Energy100% Green ConEd 1817.31¢/kWh18 months
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Payless Energy100% Green ConEd 2417.16¢/kWh24 months
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Payless Energy100% Green ConEd 3016.16¢/kWh30 months
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Constellation36 Month Complete HVAC System Coverage + Electronic (NIMO)11.99¢/kWh36 monthsEarly Cancellation Fee: $100 -
Constellation36 Month Complete HVAC System Coverage + Electronic (ConEd)14.59¢/kWh36 monthsEarly Cancellation Fee: $100
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Direct Energy BusinessSimply Green 133.29¢/kWh- -
Green Mountain EnergyPollution Free22.5¢/kWh- -
Green Mountain EnergyPollution Free Farm to Market24.5¢/kWh-
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Green Mountain EnergyPollution Free 2420¢/kWh24 months
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Green Mountain EnergyPollution Free 3619.9¢/kWh36 months
Commercial Electricity Plans
Many companies, large and small businesses, and industrial enterprises operate successfully in New York. The electricity consumption of commercial companies is growing all the time. Electricity suppliers are trying to meet the growing demand and offer commercial customers a variety of electric plan options.
The cost of electricity for commercial customers is significantly higher than in other major cities. Electricity rates vary depending on the time of year. The maximum price of electricity in New York City is in August-September and exceeds 20 ¢/kWh. Deregulation in the state allows commercial customers to change their electricity provider.
Types of New York Electricity Plans
The main types of electric plans for residents of New York City are Fixed Rate Plans and Variable Rate Plans. Fixed Rate Plans allow you to lock in for a contractually specified period of time. The terms on electric plans vary from a few months to three years. This is the best way to protect yourself from electricity price hikes.
The cost of electricity for Variable Rate Plans is not fixed and usually changes from month to month. These plans allow you to save money when electricity prices go down. If prices go up, the cost of electricity also goes up. Prepaid Plans are convenient for residents because electricity is only paid for from a prepaid account. Power companies offer a variety of options for electric plans, including the use of green energy.
Best New York Electricity Rates
The abundance of offerings leads to the fact that choosing an electric plan can be a daunting task. Electric companies offer many electric plans with a variety of options, including green energy, prepayment options, free electricity at night or on weekends.
- ProviderPlanRateLength
-
Constellation36 Month Complete HVAC System Coverage + Electronic (NIMO)11.99¢/kWh36 monthsEarly Cancellation Fee: $100
- Consolidated Edison CompanyNon-Summer Peak13.69¢/kWh-
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Constellation36 Month Complete HVAC System Coverage + Electronic (ConEd)14.59¢/kWh36 monthsEarly Cancellation Fee: $100
- Kiwi EnergyKiwi Guard - Home Protect15.71¢/kWh-
-
Kiwi EnergyKiwi Green 5015.71¢/kWh-
New York Energy Providers
There are many successful electricity companies in New York. The companies compete for consumers and offer many electric plans. The New York market has a wide variety of electric companies, ranging from small suppliers to large companies including NRG Energy, Constellation, and Consolidated Edison Company.
Residents of New York should choose their electric company carefully. Deregulation allows a customer to change their electricity provider. However, it is important to consider all options. Many electric plans have early cancellation fees.
- ProviderAddressPhone
Utility Companies in New York
Electricity sellers make electric plans and deliver electricity to end users. Electric utilities generally perform other important activities. These electric companies are involved in transmitting electricity, restoring power after natural disasters, and maintaining and building new power lines.
New York is served by many electric utilities. National Grid is one of the largest investor-owned utilities in the country. It serves more than 1.6 million residents. Founded in 1925, Central Hudson serves more than 300,000 residents of New York. Other major electric utilities in New York are New York State Electric & Gas, Rochester Gas & Electric, Consolidated Edison, Orange & Rockland.
Switching Electricity Companies in New York
In 1996, New York became a deregulated state. This is a significant development for New Yorkers. Through deregulation, New York authorities were able to break up the monopoly in the electricity market, reduce the cost of electricity and significantly improve the quality of service.
Since 1996, electricity consumers have been free to change their electricity suppliers. Because of the competition, electric companies are striving to improve the quality of service and lower the price. The number of more efficient power plants that obtain electricity from renewable energy sources has increased.
Green Energy in New York
The share of green electricity in New York is growing. Over the past 20 years, carbon dioxide emissions have fallen by almost 20%. The total share of green electricity is about 30%. Most of it is electricity generated by hydroelectric power plants. Power sellers are following the trend and offering electricity plans consisting partly or entirely of green energy to consumers in New York.
- ProviderPlanRateLength
-
Kiwi EnergyKiwi Green 5015.71¢/kWh-
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Kiwi EnergyKiwi Green 10015.71¢/kWh-
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NRG EnergyNY Renewable Electricity Plan29.13¢/kWh-
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NRG EnergyElectric Plan with Renewable Energy27¢/kWh-
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Payless Energy100% Green ConEd 1219.15¢/kWh12 months
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Payless Energy100% Green ConEd 1817.31¢/kWh18 months
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Payless Energy100% Green ConEd 2417.16¢/kWh24 months
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Payless Energy100% Green ConEd 3016.16¢/kWh30 months
-
Direct Energy BusinessSimply Green 133.29¢/kWh-
-
Green Mountain EnergyPollution Free22.5¢/kWh-
-
Green Mountain EnergyPollution Free Farm to Market24.5¢/kWh-
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Green Mountain EnergyPollution Free 2420¢/kWh24 months
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Green Mountain EnergyPollution Free 3619.9¢/kWh36 months
About New York
New York is the largest city in the United States, the financial capital of the world, and the economic center of the East Coast. The city has a population of more than 8.8 million and a metropolitan area of more than 23 million. Hundreds of languages are spoken in the city, and New York City still attracts immigrants from all over the world in search of a better life. New York City is the largest harbor in the world, about 36% of the city is underwater.
New York is the largest economic center in the world and one of the richest cities, with the largest number of billionaires. Many major corporations, including energy and manufacturing companies, are headquartered in New York City. Wall Street financiers determine the values of companies around the world and the financial parameters by which the global economy functions.
Many major energy and electricity companies are headquartered in New York City. The city is also a major transportation hub. The developed economy and attractiveness for business has the downside of high prices for real estate and services, including the high cost of electricity. The average electric bill for a New Yorker is about $173 per month, $2076 per year, well above the national average.