With
Choose Energy™, we provide you with the ability to compare electric companies so
you can choose the New York electricity provider that best fits your needs,
whether its residential energy for your home or
business
electricity.
New York Energy Deregulation
Local New York utility companies offering deregulation of energy
supply are as follows:
- New York State Electric &
Gas
- National Grid in Niagara
Mohawk
- Rochester Gas & Electric
- Central Hudson
- Orange & Rockland
- Long Island Power
Authority
- Consolidated Edison
New York energy deregulation started back in the 1990s when
consumers were finally given an opportunity to choose their electricity
providers. This started with the PSC (New York Public Service Commission)
separating out the charges on actually energy generation and the delivery of
energy to consumers' homes.
Deregulation of energy is one of those state decisions that has
brought with it numerous benefits for New York residents. Consumers in New York
now have the freedom to choose which company will provide them with their
electricity. Deregulation can be difficult to understand, so we're going to
break it up with a quick summary then go on to show you how it can help you
reduce your electric bill. In the prior regulated market, consumers had no
choice with regards to who would provide their electricity and were forced to do
it with the one government approved service in the area (the incumbent company).
Through deregulation, such monopoly was broken up and competitors were allowed
into the market. These new providers were called ESCOs (Energy Service
Companies) in New York.
ESCO providers often offer lower electric and gas supply rates,
along with special discount plans. A number of them are more environmentally
friendly than the incumbent and may use renewable sources of energy. Now, the
power you use is still being transferred to you over the same old poles and
wires that the incumbent had used. Therefore, when you switch electric
providers, this change is hardly noticeable to you as a consumer (physically at
least). The bill you receive will still be sent by your incumbent. All outage
issues, overcharges, etc are still going to be managed by the incumbent. It is
the company generating your energy that has changed and not the company relaying
the power to your home. When a new customer will set up a service, post the
deregulation, he or she will still start initial service with incumbent company.
After this, he may choose to switch over onto an ESCO.
Your original utility company in New York will still provide you
with ‘default services' post the switch. These are services that are typically
offered to consumers that never before shopped for a different energy provider.
When companies carry out market pricing, such default services act as the
benchmark. Furthermore, when living in New York, you may opt to receive one
total bill from the local utility company that lists both your utility
delivery's charges as well as the alternate provider of energy charges or opt
for 2 different bills, one from your utility company and one from your alternate
provider of energy. Whether or not such an option is available to you, however,
depends on the area in which you live and the specific local utility company
that serves you.
How Can You Benefit from New York Energy
Deregulation?
When you decide to switch you New York electricity provider, the
steps of the process are quite simple and will require a few minutes maximum.
1. Find out whether or not your area has
deregulation as well as the specific providers servicing in your area.
2. Call up the competing energy providers in
your area or visit their website to find out more about the various rates and
offers available with each company.
3. Compare and contrast their offers
face-to-face. Choose the electric plan that is most suited to your cost
reduction needs as well as your environmental awareness motivations. Make sure
you to note any cancellation fees you may be subjected to, terms and conditions,
and all special deals the company may be offering around that time.
4. Once you've decided, simply call up the
company, provide your details, and switch over.
5. Approximately 2-6 weeks from that date, all
electric provisions to your home or business will be switched over sans
interruptions to your services. Your bill from the incumbent provider will now
consist of an updated line that lists the new supplier and electric rate.
Furthermore, New York residents also enjoy deregulated gas
energy supplies. This works in a manner similar to the electricity providers'
deregulation.