Houston-based retail energy provider Champion Energy Services LLC recently announced it will be moving into New York's deregulated energy market after receiving approval from the state's regulator to supply electricity at a discount to utilities' rates, the Houston Business Journal reports.

According to the news source, Champion will begin delivering electricity to New York customers in the second quarter of 2013. The company first filed the paperwork to begin serving the area in a September 4 letter, which asked the regulator to allow the company to supply residential and nonresidential customers currently in Consolidated Edison's territory.

Other utilities that will face mounting competition from the independent electricity supplier include Central Hudson, National Grid, Orange and Rockland, Rochester Gas and Electric, Long Island Power Authority and New York State Electric and Gas.

"Our entry into New York's deregulated electricity markets is a logical next step for Champion Energy Services," Scott Fordham, Champion president and CEO, said in the company’s statement.

Champion is already excelling in supplying electricity rates to customers in Texas, Illinois, Pennsylvania and New Jersey, all of which have deregulated markets allowing energy provdiers to offer the best electricity rates