Commercial Energy Rates in New York
New York is unique among cities in that it deregulated its energy system in 1999 and founded the New York Independent System Operator (NYISO). This organization manages the electrical grid of New York City and helps to maintain a competitive marketplace of energy companies in New York so that New York City residents can get the least expensive energy possible.
Because the NYISO provides transparency in both data and analysis of energy consumption and prices, it forces energy companies to be more competitive and efficient. This, when working correctly, provides the best service and the best prices to businesses. Through this transparency, businesses can shop around when it comes to energy companies, taking advantage of the best energy rates in New York City.
The Public Service Commission of New York State (PSC)
The PSC is a watchdog of sorts that protects utility customers when it comes to service quality, competition, and metering. The PSC was instituted to make sure that the entire system remains fair for all, and that all residents of New York State have access to reliable energy at fair prices–the best energy rates in New York possible.
As such, the PSC is very powerful because every business relies on the PSC as it regulates utilities such as natural gas, electricity, water, and telephone companies. The PSC maintains the NYS Power To Choose charts which present accurate reporting of rates and availability of utilities in certain areas.
Consumer Energy Solutions is an Energy Broker – Is That a Utility?
No, Consumer Energy Solutions is not a utility company. Utility companies maintain and operate the infrastructure of the energy system, including power lines, transformers, and generators. The primary utility in New York City is Consolidated Edison, which provides electricity to homes and businesses.
Energy brokers, like us, work with the top suppliers in every market and are designed to connect the energy supplier with the energy buyer, whether they be a business or private residence. Since we’ve been in business for more than 22 years we have built relationships and trust with these suppliers to get us the best deals possible that we can pass on to you. This means that we not only have access to the best prices in the energy supplier business, but we are able to negotiate for the best rates in every area, and then match the energy buyer with the best possible rate available to them. When a business gets pricing from us, they know that we get quotes from every one of the 25+ energy suppliers in the area, and deliver you the best price.
When I initially spoke with Justin back in 2020, I was under contract until 2022. I wasn’t interested in another contract with 2 years remaining in my current one, but Justin took the time to educate me about the energy market and how prices were likely to go up due to the pandemic and other factors. Ultimately, I got a fantastic price of 4.95 cents per kWh which starts in October 2022 through 2024, which is going to save the facility an estimated $400,000 over the term agreement compared to today’s markets rates if nothing was done prior.
Thank you, Justin, for your persistence, patience, and amazing service.”
– Randy A. City of Poughkeepsie
- We get your bill and look over your historical usage and rate class to see how you should be priced and to ensure you are in the correct rate class. This is especially important, because being put in the wrong rate class can cause a huge financial mess for you.
- We will take this information and get quotes from 25+ suppliers in your area and leverage our relationships to negotiate preferential rates for you then relay that deal to you.
- We use our knowledge of the current energy market to recommend what type of rate and contract is best for your business.
- Once we have the agreement between you and the energy supplier we will walk you through the terms and conditions, like legal information and cancellation fees, or answer any other questions you may have before you sign.
- Once everything is signed you’ll be introduced to one of our customer service representatives who will assist you with any future questions.
Types of Energy Plans Available in New York City
There are different types of energy plans that consumers can sign up for, but the main two are variable-rate and fixed-rate plans. Each has its benefits.
Fixed-rate Energy in New York City
A fixed-rate plan, as the name suggests, will have a firm and unchanging price that will last the length of the contract. No matter the weather–hot or cold–severe storms, or even market volatility, the fixed rate will not change for the length of the contract. These contracts are typically for 6, 12, 24, or 36 months, but can go up to 5 years. Fixed-rate energy plans in New York are the most commonly used plans, and the plan that we recommend using in most circumstances.
Variable-Rate Energy in New York City
Variable-rate plans change month-to-month based on the fluctuations in the market. Because of this there is a chance for the rate to drop and you will pay less for a period, but there’s also a chance that the rate could go much higher. Factors that can cause this include oil & natural gas pipelines being shut down, world events, government regulations/tax changes, or an infrastructure problem. This all means that your monthly electricity bill will not be the same month-to-month, and you may end up with a surprise. We don’t recommend variable-rate plans in most circumstances.
New York City Renewable Energy
New York City’s renewable energy is managed by the New York State Research and Development Authority (NYSERDA). It gives data and analysis, technical expertise, and funding for the purpose of growing New York’s reliance on renewable energy options.
It is possible, and quite easy, for consumers to switch to a renewable energy plan in New York. Those plans, however, can have some unique challenges such as limited capacity or increased costs on some occasions. If a renewable energy plan interests you contact us today to check availability and if these plans can meet your business’ needs.
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About Consumer Energy Solutions
CES was founded in 1999 and over the past 22+ years has serviced everything from small mom and pop shops to fortune 500 companies. We represent the largest and most reputable energy suppliers in North America and have an impeccable track record at securing the lowest rates possible.