Compare New York Electricity Rates [2022 Best Prices]

Here’s a quick overview of New York electricity rates:

  • Current average retail rate of electricity: 19.74 cents per kilowatt-hour (kWh)
  • Current range of electricity prices (from renewable sources) in NY: 11.89 to 20 cents per kWh
  • Average monthly electric bill: $126.48
  • Average energy usage: 602 kWh

Figures accurate as of time of publication.

Ecowatch Author Dan Simms

By Dan Simms, Energy Expert

Updated 6/27/2022

Why You Can Trust EcoWatch

Our renewable energy experts have conducted hours of research and collected dozens of data points to determine the best energy rates in New York. We’ve also objectively ranked and reviewed numerous energy companies to empower you to make the right choice for your home. 

Who Has the Best Energy Rates in New York?

The lowest price per kWh for a 100% renewable energy plan in New York is offered by IDT Energy at just 11.89 cents. You can click below to compare prices from all of the top energy suppliers in New York.

Best Green Energy Options
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Nationwide Service

Ecowatch rating

Average cost

$$$$$

Green Mountain Energy

  • Pros icon Green-e certified plans
  • Pros icon Wide variety of contract term options
  • Pros icon Low number of customer complaints
  • Pros icon Many years of experience
  • Pros icon Makes charitable contributions
  • Con icon Charges contract cancellation fees
  • Con icon No prepaid or no-deposit plans
  • Con icon No satisfaction guarantee

Services Offered

  • Service icon 100% Renewable Energy Plans
  • Service icon Fixed-Rate Plans
  • Service icon Variable-Rate Plans
  • Service icon Home Solar
  • Service icon Month-to-Month Plans
Best Value for Renewable Energy
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Regional Service

Ecowatch rating

Average cost

$$$$$

Verde Energy

  • Pros icon No early termination fees
  • Pros icon Many years of experience
  • Pros icon Low rates
  • Con icon History of issues with misleading marketing
  • Con icon No prepaid plans

Services Offered

  • Service icon 100% Renewable Energy Plans
  • Service icon Fixed-Rate Plans
  • Service icon Business Energy Plans
Great Regional Provider
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Regional Service

Ecowatch rating

Average cost

$$$$$

Residents Energy

  • Pros icon Low number of customer complaints
  • Pros icon No early termination fees
  • Con icon Expensive
  • Con icon Not as many renewable energy options as competitors
  • Con icon Low number of plans to choose from

Services Offered

  • Service icon 100% Renewable Energy Plans
  • Service icon Fixed-Rate Plans
  • Service icon Variable-Rate Plans
  • Service icon Community Solar
Great Local Provider
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Statewide Service

Ecowatch rating

Average cost

$$$$$

PayLess Energy

  • Pros icon Wide variety of contract term options
  • Pros icon Wide variety of plan options
  • Con icon Charges contract cancellation fees
  • Con icon No prepaid or no-deposit plans

Services Offered

  • Service icon 100% Renewable Energy Plans
  • Service icon Fixed-Rate Plans
  • Service icon Variable-Rate Plans

Jump To: New York Energy Rates | Price Comparison | How to Find the Best Rates | Types of Electricity Plans | Best Electricity Companies | What to Look For When Choosing a Provider | FAQ

New York Energy Rates

The New York Public Service Commission (PUC) deregulated the state’s energy market in 1998, which meant that residents went from having to buy power from Consolidated Edison (more widely known as Con Edison, Con Ed or ConEd) to having an energy choice and being able to select the energy service company (ESCO) that met their needs best. Deregulated energy markets are generally better for customers because they encourage competition among suppliers, which tends to bring prices down.

The rate you pay for energy in NY depends primarily on the supplier you choose, which is the company that produces your power. However, it can also be influenced by the utility that  delivers the electricity to you via the power lines. Most New Yorkers — and nearly all in the New York City (NYC) service area — buy power indirectly from Con Edison, but other major local electric utilities include:

  • National Grid, New York State Electric & Gas (NYSEG) for customers in Rockland and Westchester Counties and throughout most of the state
  • Central Hudson Gas & Electric
  • KeySpan Long Island
  • Rochester Gas & Electric (RG&E) in upstate New York.

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Comparison of Electricity Rates in New York

The table below provides a side-by-side comparison of the energy plans available in New York, including the contract term required and the price per kWh. It should be noted that, because we are an environmentally friendly website and promote the use of clean energy over electricity generated using fossil fuels, we’re only including energy service companies that have 100% renewable energy plans. We’ll explain these plans and their benefits in greater depth below.

Plan Name Term (Months) Plan Rate (¢/kWh)
City Power & Gas Premium Green 12 12 19.15 cents
City Power & Gas Premium Green 18 18 17.31 cents
City Power & Gas Premium Green 24 24 17.16 cents
City Power & Gas Premium Green 30 30 16.16 cents
Green Mountain Energy Company Pollution Free 1 19.00 cents
Green Mountain Energy Company Pollution Free Farm to Market 1 20.00 cents
Green Mountain Energy Company Pollution Free 36 36 15.00 cents
IDT Energy 1-Month Plan 1 11.89 cents
IDT Energy 6-Month Plan 6 18.19 cents
Just Energy Green Energy 24 24 14.89 cents
Just Energy Green Energy 36 36 15.59 cents
Major Energy Electric Services New York Green 12 12 19.99 cents
Major Energy Electric Services New York Green 24 24 18.99 cents
Major Energy Electric Services New York Green 36 36 18.49 cents
Marathon Energy Green Renewable Energy 6 6 17.70 cents
Marathon Energy Green Renewable Energy 12 12 19.82 cents
Marathon Energy Green Renewable Energy 24 24 17.42 cents
Payless Energy 100% Green ConEd 12 12 19.15 cents
Payless Energy 100% Green ConEd 18 18 17.31 cents
Payless Energy 100% Green ConEd 24 24 17.16 cents
Payless Energy 100% Green ConEd 30 30 16.16 cents
Residents Energy 1-Month Plan 1 11.89 cents
Residents Energy 6-Month Plan 6 18.08 cents
Verde Energy USA New York New York Green 12 12 19.99 cents
Verde Energy USA New York New York Green 24 24 19.19 cents
Verde Energy USA New York New York Green 36 36 17.99 cents

*Rates will vary based on your public utility; you’ll see the rates above if your utility is Con Edison. Rates are subject to change.

How to Find the Best Electricity Rates in New York

Many New York residents assume that the energy plan with the lowest per-kWh rate is the right one for them, but there are other factors at play that should influence your decision. Below, we’ll explain how the energy consumption of your home and some finer details about your energy contract can affect the price you pay for electricity and your overall satisfaction with the plan.

Your Energy Usage

The amount of electricity you use each month can have an effect on what you pay for electricity because most local utility companies use a tiered rate structure to determine your per-kWh rate. A tiered rate plan means that consumers who use different volumes of power will have different rates, usually with below-average or above-average consumption households having higher per-kWh prices. If you use well above or below the average NY consumption of 602 kWh per month, a tiered rate might end up costing you more than the average in your area.

Another option offered by some electric companies is the time-of-use (TOU) rate structure. These plans charge all customers the same amount, but the rate changes based on when energy is consumed. Your provider will have set off-peak times where energy rates are lowest, mid-peak times where they’re a bit higher and on-peak times where electricity is most expensive. If you use most of your electricity during off-peak hours, a TOU plan might be suitable for you, even if it comes at a slightly higher per-kWh rate.

Contract Length

The length of the contract you’re entering into with an energy plan is also a crucial factor to consider. Most fixed-rate plans require contracts, and they can vary in length from a few months to several years (usually a maximum of three years). Signing onto a contract means you’ll lock in a set rate regardless of local energy prices, which could end up being a positive or a negative depending on the customer’s viewpoint. Generally speaking, longer contracts mean lower rates.

You’ll also want to consider the fine print in the contract, which could include information about introductory rates that may increase during your contract term, sign-up fees, early-termination fees and more. If you’re unsure of which energy plan is right for you and your home, you can use this tool or the buttons below to help get started in the right direction.

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Types of Electricity Plans in New York

When you’re looking through energy plans in New York, you’ll likely come across some terminology that is unfamiliar, including the types of plans that are available. Below, we’ll explain some of the common types of energy plans you’ll find in New York to help you better understand which ones might work best for you.

Fixed-Rate Plans

Fixed-rate plans usually require a contract for up to around three years, during which time the rate you pay per kWh remains exactly the same. Contrary to what some homeowners believe, your electric bill can still go up and down with fixed-rate plans, as the only portion of the contract that is fixed is the per-kWh price. If you have a month of higher consumption, your bill will be higher.

We typically recommend fixed-rate plans because they provide peace of mind that your energy rate won’t increase. Other options can have rates that spike during times of increased demand or low supply, so a fixed-rate plan is typically best for budgeting. However, they almost always require contracts, and most of them have early-termination fees.

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Pros of a Fixed-Rate Energy Plan Cons of a Fixed-Rate Energy Plan
Make budgeting simpler They require contracts and usually have early cancellation charges
They guarantee your energy price won’t increase during your contract term They might end up being more costly than variable-rate options if local energy prices go down during your contract term

Variable-Rate Plans

Variable-rate plans have per-kWh rates that change on a regular basis, depending on the local energy prices. The amount you pay for each kWh you consume could be different month to month or even on a daily basis. Variable-rate plans often have the benefit of not requiring contracts, which means there are no early termination fees to deal with.

However, we usually don’t recommend these plans because they can leave you with astronomically high energy bills if the local energy price skyrockets — and little peace of mind during times of crisis or high demand.

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Pros of a Variable-Rate Energy Plan Cons of a Variable-Rate Energy Plan
They have the potential to increase energy savings if local prices remain low Your energy prices can fluctuate and increase unexpectedly
No contracts or termination fees You might end up paying more than with a fixed-rate plan if local prices increase

No-Deposit and Prepaid Energy Plans

Many electric companies in New York require some type of deposit or sign-up fee to enroll in an energy plan, which is a way to offset the risk of future non-payment. Some New York utility providers offer no-deposit plans for customers who can pass a credit check, which can save you some money on upfront electricity costs. These plans can also have variable or fixed rates.

Another option to reduce initial costs is a prepaid energy plan. These don’t require a deposit because you instead put money into an energy account, which will be drawn from to cover your power consumption. You have to remember to top up the account to avoid power outages, but these plans offer a guaranteed way to limit how much you spend on electricity each month.

Pros of a Prepaid Energy Plan Cons of a Prepaid Energy Plan
Little to no money down required You have to remember to add money to your account each month
You retain total control over energy expenses Some prepaid plans come with slightly higher rates
No contracts or early cancellation fees

Green Energy Plans

Many electric suppliers in New York still use fossil fuels like natural gas and coal to produce energy for customers, but green energy plans use entirely renewable energy like wind and solar. We always recommend these plans because they let you take part in green energy without having to spend thousands on solar panels, and they help reduce your carbon footprint and the pollution your energy consumption creates.

New York established the Clean Energy Standard, which sets a Renewable Portfolio Standard (RPS) goal of producing an incredible 70% of its electricity via clean energy sources by 2030.1 Although green energy plans are already widely available and affordable, it’s possible that the state will further incentivize green energy plans and reduce the cost of clean energy even more.

Pros of a Green Energy Plan Cons of a Green Energy Plan
Lets you support the green energy movement with minimal cost Slightly more expensive on average (1 to 2 cents more per kWh)
Reduces your carbon footprint and contribution to global warming Not as many plans available

Business Energy Plans

Finally, business energy plans are designed for commercial customers that have greater energy needs than residential customers. These plans can be fixed-rate or variable-rate and can also be 100% renewable energy plans. Business plans aren’t as prevalent as residential ones and often come at higher costs than residential electricity rates, so you will have fewer options to choose from and might need to shop around more to find companies that offer them.

Electric Companies and Providers in New York

There are lots of electric companies in New York to choose from, thanks to the deregulation of the energy market. No single company will be best for all homeowners, but the below suppliers rank highest in our top-rated electric companies in New York.

Green Mountain Energy Company

  • Positive customer reviews
  • 100% renewable energy plans
  • Fixed-rate options available
  • Multiple contract rate options offered

Verde Energy USA New York

  • Positive online reviews
  • 100% renewable energy plan options
  • Several contract terms to choose from
  • Fixed-rate plans are standard

Payless Energy

  • Green energy plans available
  • Positive online customer reviews
  • Fixed-rate plans
  • Many options for contract term offered

Residents Energy

  • Fixed-rate plan options available
  • Green energy plans offered
  • Different contract term options

What to Look For When Choosing an Electricity Provider in New York

Choosing a new electric supplier often seems like an easy choice, but the process involves more than just finding the company with the lowest rates. Below, we’ll discuss the most crucial considerations you should make when selecting a provider.

  1. Plan Options: Not every energy plan will appeal to all homeowners, so one of the easiest ways to rule out suppliers is to look at the plan options they offer. If you know you want a fixed-rate plan, for example, you can search only for companies that offer that plan type to narrow your search.
  2. Energy Source: We strongly suggest choosing an energy plan that sources only clean energy. These plans help improve the environment and can still save you money in some cases over plans that use fossil fuels for energy production.
  3. Contract Terms: The length of the contract is crucial, as longer options lock you into a rate and supplier for a long time but often come with lower energy rates. Other contract terms matter as well, including early-termination fees, sign-up fees and introductory rates that will increase during your contract.
  4. Energy Rate: The price you pay per kWh is, of course, a major factor to consider. Lower rates are better for you, although you have to weigh the price against the other factors discussed here.
  5. Customer Reviews: You can read through positive and negative company reviews to see what kind of experience you’ll have with a company. This is a great way to get an unbiased sense of a company’s customer service before committing to a plan.
  6. Company History: Some customers don’t care how long a company has been in business, but those with longevity in the industry tend to have faster response times to problems and better customer service overall.

FAQ: New York Electricity Plans

At EcoWatch, we frequently get questions about how to choose a new energy plan in New York. Below are some of the questions we see most often, along with our responses.

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Dan Simms

Solar Expert

Dan Simms is an experienced writer with a passion for renewable energy. As a solar and EV advocate, much of his work has focused on the potential of solar power and deregulated energy, but he also writes on related topics, like real estate and economics. In his free time — when he's not checking his own home's solar production — he enjoys outdoor activities like hiking, mountain biking, skiing and rock climbing.