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We offer New York customers a range of energy products that are designed to meet a wide variety of needs.
Deregulation in New York
The deregulated electricity market in New York has gone through a transitional period that began in 1998. Initial orders passed by NYPSC instructed each UDC to begin the process of divesting their electric generation assets. Each UDC entered into separate settlement agreements with the NYPSC and intervening parties. As it stands today New York has been deregulated for approx 8 years and customer switching is at approx 43%.
As a direct result of the various unique rate negotiations and regulatory settlements between each UDC and the NYPSC, the rates and pricing structures vary from utility to utility. In general the rates for default commodity service are designed to remove the UDC from the Risk Management role for consumers. As such most of the rates in New York are volatile. As a result, consumers, in most cases, are confronted with price uncertainty and the transfer of price risk from the utility to their operations.
As an incentive to promote electric competition, the NYPSC has created additional savings and tax incentives for customers that enroll with an Energy Supply Company (ESCO). Tax incentives alone generally amount to a 4% savings. Customers in certain UDC territories may also be eligible for certain credits for switching to a ESCO.
What happens when you choose a new electricity supplier:
- The new supplier notifies the old supplier and utility that you have changed suppliers.
- The new supplier transmits utility account information to the utility in order to enroll you as a customer.
- The utility confirms, by letter to you, of your new supplier selection and the date your new service begins.
- The actual change of supplier occurs on the meter reading date following a successful enrollment.
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