Electric Companies in New York

New York Electric Companies

New York State is a major producer of electricity. Most of its electricity comes from natural gas, which is shipped on the Atlantic Ocean through New York's major ports. More than 60 natural gas-fired power plants provide 44% of all electricity. The presence of major rivers and Niagara Falls makes New York State a major producer of hydroelectric power. 180 hydroelectric facilities provide nearly one-fifth of all electricity. Also worth mentioning are the thousands of solar panels and solar photovoltaic power plants. The number of solar installations is growing steadily.

New York City has both large electric companies, such as Consolidated Edison Company, Orange and Rockland, and Central Hudson, as well as many small electric companies. High electricity rates led to New York becoming a deregulated state in 1997. Competition in the electricity market led to lower electricity prices. About 200 energy service companies (ESCOs) already offer electricity and electrical services. About a quarter of New Yorkers use ESCOs.

Authorities in New York State plan to completely eliminate the use of non-renewable energy sources by 2050. Hydropower alone is not enough. By 2030, the plan is to increase solar power generation to 1,000 MW, enough energy to power 250,000 homes. Already many companies in New York, such as YSG Solar, offer solar power solutions. The government actively supports the development of geothermal energy, and several geothermal projects have already been implemented, including projects in Brooklyn and Staten Island.