In the New York energy market, electricity consumers have the choice to purchase energy from an independent energy supplier or stay with their area’s utility company. These suppliers, called energy service companies or ESCOs, often offer lower rates and more plan options than area utility companies. To better understand your options and what may work best for you, take a look at the answers to some common questions and a brief overview of the types of plans you can consider.
What is the difference between an ESCO and a utility company?
A utility company sells energy to consumers, delivers it to their homes and businesses, and maintains power lines. Utility companies operate in certain service areas and each service area has only one utility. In regulated energy areas, this means utility companies are a monopoly.
In deregulated areas such as New York, this monopoly is broken apart. Instead, independent companies called ESCOs can offer consumers lower rates and better plan options. The utility company still delivers energy, maintains infrastructure, and sells energy to consumers who choose not to sign up with an ESCO. The only difference is that consumers now have more choices available to them.
What is a rate to compare and how do I find mine?
A “rate to compare,” also called a “price to compare,” is the amount that the area utility company charges per kilowatt hour (kWh) of electricity. You can use this number to determine if you can find a cheaper rate with an ESCO. It can be found on your last bill from the utility company, usually listed in cents per kWh.
What are some ESCOs in my area?
As a national energy marketplace, Choose Energy has relationships with some of the top energy companies in the country, including Clearview Energy, Public Power, Constellation, and other ESCOs who serve New York areas. To learn more about these and other ESCOs plans in the NSYEG area, enter your ZIP code above.
