New York Electricity Rates: An Overview
Thanks to deregulation in New York, energy services companies (ESCOs) can now compete for your business. Unlike your standard utility, a retail New York electric company might offer a variety of options for your monthly rates. By shopping around you can take advantage of competition-driven electricity rates, flexible payment plans and innovative green energy options.
In many areas of New York there are ESCOs you can choose to provide you with electric supply. Choosing among electric companies like Just Energy, Ambit Energy, Spark Energy and Direct Energy is easy. All you have to do is enter your ZIP code above and you can see a side-by-side comparison of electric service options in your area and a variety of rate plans available to you.
Choosing the right electric company is about your needs. There are so many options available to many New York residents that there's no reason to rush into a plan. Spend some time on NewYorkEnergyRates.com to do your homework and select an electric company that offers the terms and rates you're looking for.
How it Works
Deregulation of the electricity industry in New York is essentially a division of labor designed to benefit consumers. Instead of the utility owning all steps in the electricity production and delivery process, two separate entities now combine their efforts with the utility to deliver electricity to you.
Energy generators create electricity in a variety of ways. Once electricity has been generated, it is sold to retail providers such as those listed above. These retailers then design competitive plans with various electricity rates to sell to consumers. Once a consumer has purchased electric supply, her local utility delivers the electricity, whether she is a commercial or residential customer.
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Finding a new electric company is easy
New York electricity rates can vary based on a variety of factors, including the weather and demand. In an effort to sidestep this volatility, some retailers will allow you to lock in your supply prices for the duration of a contract. These are called fixed-rate plans. By signing up for electric service with a fixed rate, you'll know that your rates and your budget are protected.
But fixed-rate plans are not for everyone. In some cases these types of plans require a long-term contract, and some people may not wish to enter into that kind of agreement for their electric service. As a result, many New York electric companies also offer month-to-month plans. These plans typically include variable rates that follow market prices.
Variable-rate plans offer consumers the advantage of capitalizing on market lows, but if the market spikes you could end up paying high electricity rates. If you're excited about the possibility of low electricity rates offered by a variable-rate plan but are scared of the volatility, you should look for an electric company that offers plans designed to deliver the best of both worlds. You might be able to find electric service with a variable rate that also offers the option to switch to a fixed rate if market prices begin to spin out of control.
Some electricity companies also give customers options when it comes to supporting green energy. Whether you're interested in offsetting the negative impacts of your energy use or ensuring that the equivalent of your electricity usage is created from green energy resources and injected into the power grid, many retailers have designed plans that can work for you.
Most importantly, keep in mind that ESCOs are competing for your business. If you're patient, you could be able to find a plan that addresses all of your concerns with the added bonus of competitive electricity rates!
Find the electricity plan you want today!
Here at NewYorkEnergyRates.com, you'll find all the tools you need to explore your options for electricity service. By entering your ZIP code above you can compare plans and rates on electricity service in your area. Plus, if you're not sure what something means or you're just looking for more information about New York energy deregulation in general, there are plenty of resources for you to explore on the site.
Don't continue to pay more than you have to for electricity in New York! Enter your ZIP code today to see how much you could save.