New York Electricity Rates
If you are a resident or small business owner in New York City, you have likely received information or heard of the many retail electricity providers that are competing for your business. Here at ElectricityRates.com, we’re here to help you sort out the best retail electricity provider to help you make more informed decisions for your particular electricity needs.
Compare New York City Electricity Rates
Chances are, you’re considering switching your electricity supply service from Con Edison to a reputable retail electricity provider. But how do you know if you are getting a plan that not only has the best New York City electricity rates but is tailored towards your particular electricity needs? By comparing retail electricity providers and their plans, you can find the best provider for you.
1. View NYC Electricity Providers
You can use our free Compare & Switch tool to view a list of some of the best retail electricity providers in New York City. Located on the right side of this page, type your zip code into the box, select Con Edison as your utility, and start shopping.
2. Search for the Best Electricity Rate
First, you’ll need to figure out the rate that you are currently paying. This rate, expressed in cents per kilowatt hour (kWh) can be found on your most recent electric bill and will appear something like: 10.354 cents/kWh or $0.10354 cents/kWh. When comparing rates, keep in mind that the rate you see offered may not be the rate you pay a couple of month from now. There are two types of plans: fixed and variable.
- Fixed-rate plans have rates that WILL NOT CHANGE during the duration of your contract.
- Variable-rate plans have rates that vary along with the electric wholesale market. These rates are subject to change any month.
3. Consider Other Features of a Plan
Here are some questions that you’ll want to ask yourself when comparing providers and plans:
- Is the rate fixed or variable?
- What is the duration of the contract? Contract terms are often offered in terms of 3 to 36 months. A 6- to 12-month fixed-rate plan is recommended since you are guaranteed a low rate but shield yourself from risk is Con Edison lowers their default rate next year.
- Are additional fees involved? Some retail electricity providers may require a credit check and a security deposit, and some may require a sign-up fee. Take this into account when tallying up your savings.
- What incentives do the providers have to offer? Electricity providers want your business, so many offer incentives to keep you as a customer. Sign-on bonuses, rewards programs, refer-a-friend discounts, and others are among the incentives offered by many providers.
- From what is the electricity sourced? Interesting in getting your electricity from renewable sources? Many providers offer partial or 100% green plans that supply your electricity from renewable sources such as wind, solar, hydropower, and biomass. You’ll find that these rates are slightly higher than traditionally sourced energy, but many providers offer green plans for below Con Edison’s default rate.
Switch New York City Electricity Rates
You can easily switch through our free Compare & Switch tool. Just click on the New York City electricity provider and plan that you want and fill out our easy contact and account information forms.
Con Edison will still deliver your electricity, maintain the wires and poles that transmit the electricity to your home or business, respond to emergencies, and deliver your bill. You will continue to receive the same service reliability since Con Edison is responsible for the delivery and transmission portion of your services. The only real difference that you see will be a different supply rate on your Con Edison bill.
Click here to view The New York State Public Service Commission’s ESCO Consumers Bill of Rights in order to learn about your rights as an energy service company consumer.