Learn About New York Electricity Deregulation
Residents of the Empire State have the opportunity to shop around and discover what is the best electricity provider in New York. This privilege is all thanks to the deregulation laws, passed in the late 1990s, causing the state's energy market to undergo a restructuring. The result separated the supply and delivery portions of electricity and created a competitive energy marketplace.
The basic idea behind deregulation was NY residents could benefit from lower energy rates offered by competing energy services companies, or ESCOs. People can now shop around to find out what is the best ESCO in New York and pay electricity rates other than those offered by NY utilities.
ESCOs compete for your business in most utility areas, including Consolidated Edison, National Grid (Niagara Mohawk), New York State Electric & Gas (NYSEG), Rochester Gas & Electric, Central Hudson and Orange and Rockland.
Some research is required to see who offers the lowest rates for electricity. In New York City, you might find a different rate than you would in Rochester because prices vary by location. Nevertheless, millions of people have already made the switch and stopped paying utility rates. What are you waiting for? Shop now to see how you can save!
Even if you decide to start comparing ESCOs to find out who is the best retail electric provider in New York, you will still work closely with your utility. The New York State Public Service Commission (PSC) requires that utilities continue to deliver electricity to customers since they own the power lines capable of transporting it. In addition, the utility must also maintain the infrastructure, by making repairs and responding to power outages. You can also continue to get your electricity supply from your utility, though it may be more expensive than an ESCO can offer.
The main difference you will see has to do with how your bill looks. Your local utility will continue to charge for delivering your electricity, but an ESCO will charge for your supply. So what is the ESCO electricity supply charge? Basically, it is the price you pay for your electricity use. Previously, this was charged by your utility, but now you can shop around to see if a new supplier might have cheaper rates and pay those instead. If you know how to compare ESCO rates you are well on your way to discovering what is the cheapest electric supplier in NY.
So what is the best electric supplier for New York residential customers? It really all depends on what you value in a company. In addition to finding out what is the cheapest ESCO in NY you need to consider other aspects of retail supply service. For example, some providers offer different plan options that could best fit your needs, while others have great customer service packages.
