Compare New York Electric Prices

You have many options to choose from when picking your energy supplier in New York. If you’re unfamiliar with some of the key terms linked to electricity plans, these choices can feel overwhelming. To help you understand some basic terms, review the information below or consult our more detailed guides to choosing the right type of plan.

• How do I choose the right electricity plan?
• Will I have to pay a deposit?
• How do I switch energy providers?
• How can I lower my electricity bill?

The Electricity Facts Label (EFL) gives you key information about the plan you’re considering. These details include the type of rate, the amount of your energy that comes from green sources, and more. Below are some common terms to look out for:

• Fixed rate: These plans give you a fixed price for your electricity during the duration of the contract. You could have one rate or different tiers depending on how much energy you use and when you use it. However, the prices for each of these tiers will remain the same.
• Variable rate: Under a variable-rate plan, your rate fluctuates in line with changes in 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.
• 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 top up your account as you need more.
• Renewable energy: Many New York ESCOs offer renewable energy options. However, not all green plans are created equal. 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.

If you’re happy with the plan or rate offered by your local utility, you can remain a customer with them. New Yorkers don’t have to purchase a plan from an ESCO. If you do not choose an ESCO, your utility will automatically supply you with Standard Offer Service (SOS). The SOS rate is also your area’s price to compare when you’re shopping for a new plan. Enter your ZIP code to shop ESCOs in your area.

The deregulated energy market gives consumers the power to choose to stay with their area’s utility company or purchase energy from an ESCO. In either case, your utility continues to deliver your electricity and maintain power lines. If you experience a power outage or have an emergency, contact your utility company. Some of the main utility companies in New York are:

• Central Hudson Gas & Electric
• National Grid Keyspan
• Consolidated Edison Co. (Con Ed)
• Rochester Gas & Electric

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 which ESCO you choose. The only thing that will change is the price you pay.

New York operates a deregulated electricity market. A deregulated energy market gives residents and businesses the ability to select their ESCO. As a result, you could find a better electric plan and price than your current terms.

New York is among the most expensive states in the nation for electricity, with residents paying an average of 23.60 cents per kWh as of February 2023, according to the Energy Information Administration (EIA). For reference, the national average is 15.96 cents per kWh. Exercising your energy choice could allow you to find a cheaper electric rate with the ESCO you prefer. 

The Choose Energy marketplace gives you all the information you’ll need to compare cheap rates for your local area. Browse rates from low to high and filter your results by the features you want, such as a specific ESCO, green energy, term lengths, and more. Enter your ZIP code to find and sign up for a plan that works for your household or business.

How long does it take to switch energy providers?

Thanks to the ChooseEnergy 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 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 appliances that you’re not using or installing energy-efficient equipment. You can also select a new energy provider with a lower rate. Finally, you could do an energy audit of your home to find out whether insulation or other upgrades could help you save electricity.