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New York energy deregulation began in 1999 with the founding of the New York Independent System Operator, NYISO. This organization is responsible for managing New York’s electric grid as well as the competitive marketplace. NYISO provides data and analysis pertaining to New York’s power system to ensure reliability and transparency.
he deregulated market opened energy supplier up to competition- forcing them to be more efficient as it relates to both service and price. Mount Vernon businesses of all sizes can compare energy plans from top energy suppliers and shop for the lowest energy rates, taking advantage of the competitive market and managing their monthly electricity costs.
The PSC, or Public Service Commission of New York State, provides a variety of services to protect and assist utility customers. This includes service quality, competition, and metering for electricity. The PSC was created to assure the residents of New York State have adequate, efficient, reliable, and safe public utility services at a fair price.
In doing so, the PSC impacts every business in Mount Vernon– as it regulates all providers of utility services, including electric and natural gas companies, local and long-distance telephone companies, water companies, and steam generators. The PSC is responsible for ensuring that the utility companies regulated by the PSC are responsive to the needs and concerns of individual consumers and to the public.
As a Mount Vernon business owner, it is important to understand that the PSC is also synonymous with the “NYS Power to Choose” energy comparison charts.
Utilities are the entities in charge of the operation and maintenance of the energy infrastructure, like wires and towers. The local utility in Mount Vernon is North American Power and is responsible for transporting electricity from the generators to residential homes and businesses in this specific region.
Energy providers in New York, like Direct Energy and Constellation Energy are the competitive energy retailers. Each energy provider buys energy from the wholesale market (the generators) and then re-sells it to consumers (homeowners, renters, and businesses).
In most cases, the consumer, the homeowner, renter, or business, signs a contract with an energy provider for a specific energy plan. The basic energy plan details the rate class, the energy rate per kWh, the contract term length (6, 12, 24, 36 months), and other contract terms like cancellation fee policy.
Energy choice, also known as energy market deregulation, allows Mount Vernon business owners to select their energy supplier. Mount Vernon has been a deregulated market since May 1999.
Mount Vernon is a suburb of New York City with a population of approximately 67,292 according to the 2010 census. The Village of Mount Vernon was created in 1850 by a merchant tailor named John Stevens in order to help improve the conditions of the working class in New York City. As the eighth most populous city in New York State, the city is divided by two sections: the urban South-side and the more residential North-side.
New York state small business employed 4 million people and grew by 113,528 net new jobs according to the latest SBA Small Business Profile. The 4 million employees represent 50.2% of the total employees in New York state. In total 2.1 million small businesses in New York make up 99.8% of the total businesses in the state.
Mount Vernon’s economy is boosted by a large commercial sector with industries including electronics, engineering, tech and manufacturing. Mount Vernon’s three major employers are the Mount Vernon city school district, Michael Anthony Jewelers, and Mount Vernon Hospital.
The southern portion of the city has an Empire Zone, a space for commercial and industrial use. The suburb is also home to what is known as The Forward Thinkers Facility, an office space where entrepreneurs, small businesses, and tech startups can collaborate and grow.