Enter your zip code to instantly compare New York electricity rates and energy plans.
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.
The deregulated market opened energy supplier up to competition- forcing them to be more efficient as it relates to both service and price. New York City businesses of all sizes can compare energy plans from top energy suppliers and shop for the best available 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 New York City – 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 New York 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 New York City is Consolidated Edison 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 Frontier 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 New York City business owners to select their energy supplier. New York City has been a deregulated market since May 1998.
New York City is the largest populated city in the United States with over 8.6 million people. Recognized as one of the most exciting cities in the world, it is located at the mouth of the Hudson River. Originally settled by the Dutch and named New Amsterdam, it officially became New York City in 1664 by Great Britain after the Revolutionary War.
Headquarters for some of the world’s largest corporations, it is also the home of the stock exchange, making it a world leader in finance. Known as a “melting pot” for its ethnic diversity, New York City is also home to the United Nations. New York City is a major hub for advertising, fashion, entertainment, and communications. It was nicknamed the “the city that never sleeps” due to its vibrant nightlife and entertainment.
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.
New York City is the core for both national and international finance, with Wall Street as its most important economic sector. It also leads the country in the number of Fortune 500 and 1000 companies headquartered there. The cities largest industry is publishing, with the most printing plants in the United States.
In recent years, an increase in high-tech and media have resulted in the city being penned as “Silicon Alley”. Tourism along with real estate and television and film production are additional economy boosters. New York City is the country’s top city for small businesses, particularly for those in the retail and service industries.
See today's electricity rates for cities in New York.