How to Shop Business Electricity in New York

Looking for commercial electricity to run your New York company? We’ll go over the fundamentals of New York Power to Choose and energy deregulation, as well as how to evaluate prices for NY businesses and the advantages of switching.

New York Power to Choose – Deregulation Basics

Regardless of the size of your business, you might reduce your electricity costs by comparing business electricity supplies.

In 1996, businesses in New York gained the ability to select their electrical provider. The New York Public Service Commission (PSC) continues to supervise the local utilities under deregulation and approves utility rates for both energy supply and distribution. Energy Service Companies, or ESCOs, which provide alternate forms of electricity in New York, are also licenced by the PSC.

In New York, you have two alternatives for your source of business electricity. You have the option of purchasing your power supply at a competitive price from an ESCO. Alternately, you can keep purchasing electricity from your neighbourhood utility provider at the standard service fee.

Your tariff may vary during the year if you use the utilities default service (also known as the price to compare). There will be ups and downs from time to time. The only thing you know for sure? is that if you stick with the utility, you have no influence over your rate.

Because of this, many business and industrial electricity customers in New York have shifted to one of the state’s commercial electricity providers.

Here are some frequently asked questions about buying power in New York:

What percentage of businesses in NY have switched to alternative electricity suppliers or ESCOs?

As of December 2019, 31% of all Small Business accounts (Non-Res SM & ST LGT) and 70% of all Large Business accounts (Non-Res LG TOU) had moved to an ESCO, according to the New York State Department of Public Service.

These businesses account for 68% of the city’s whole commercial power load, or the majority of the business electricity load in New York. 77% of all large company load has been transferred by major firms. 62% of the state’s small business load is made up of the flipped small enterprises.

What’s the average business electricity rate in New York?

Using data from March 2020, the EIA estimates that the typical New York commercial power rate is 13.33/kWh. This is 28% higher than the national average. For this reason, it’s crucial to shop around for your company’s electricity in order to acquire the greatest commercial rate.

How do I shop for New York residential electricity?

The state-run comparison website NYS Power to Choose is the finest resource for home electricity costs in New York. This website provides electricity tariff options for your New York residence.

On the New York Power to Choose website, you cannot browse for business electricity. You may shop and compare commercial electricity rates in New York with the aid of ElectricityPlans.com.

How to Choose A Business Electricity Supplier in New York

The major event is now upon us: selecting a New York commercial electricity supplier.

It’s hard to shop for business electricity on your own.

You must first compile a list of ESCOs that offer non-residential rates. (After a protracted online search, we eventually located the list.) There are 172 options for commercial electricity providers.

To obtain estimates for your electrical service, you must get in touch with the ESCOs. Then go through every contract and look for any hidden traps. After choosing a provider, you must ask for an updated energy pricing (because energy prices change constantly.) while with managing your business.

Because of this, finding a commercial electricity source in New York is challenging. We step in at this point.

We simplify your New York business electricity shopping and handle it for you.

To provide you with outstanding service and access to vendors that we have reviewed, we have partnered with a significant national broker.
Your energy advisor will speak with you to better understand your usage of electricity and utility pricing.
We’ll work to comprehend any potential expansion objectives you may have because adjustments to your business could affect your rate options.
The utility will then provide us with a copy of your past electricity usage. We’ll begin comparing all of our providers’ choices for commercial electricity.
We’ll give you choices for your commercial electricity supply. For rates and terms, you’ll receive quotes from various providers. And we’ll advise you on the best course of action.
We’ll stay in touch to handle your renewal after you’ve chosen a commercial electricity provider.

Will I Save Money vs. The Price to Compare in New York?

For each firm, a distinct price should be compared. Your utility, your rate class (given by the utility), and your degree of demand all have an impact. Even hourly rates may be used by large businesses.

Your particular business will determine how much you can save.

To compare power rates, it is advisable to deal with a specialised energy expert.

Our team of retail energy specialists will look at your rate class, past energy use, and objectives. After that, we’ll provide you advice and walk you through the switching process.

What New York Electric Utilities are Deregulated?

There are several deregulated locations in New York, and you can pick an ESCO to supply power to your company.

In the event of an electrical emergency, your utility will continue to manage the poles and wires in your neighbourhood and respond to any service interruptions. Additionally, you should contact them if you need to install a new power metre for your company.

What are the Benefits of the Power to Choose for New York Businesses?

You are free to select an electricity supplier for your New York company. But ought you to? Yes, provided that you value the following:

Savings – Evaluate your usual service fee against the kWh price offered by an aggressive ESCO. Do it if you can lock in a pricing that is less expensive than the neighbourhood utility!
Utility rates are adjusted at least twice a year for security. You can’t control the rates and you never know what’s going to happen. You can budget and make plans when you work with an ESCO to lock in a fixed rate plan.
Options – You can select a short-term or long-term strategy, as well as a 100% green energy alternative.

The advantages above presuppose a fixed rate plan, which is what we normally advise.

A Block & Index plan can also be an option for bigger businesses. With the majority of your electricity bills fluctuating with market pricing until you lock in, you can lock in a portion of your costs on a fixed rate plan. Larger New York companies with full-time energy managers employ this method.

In New York, variable rate plans are also accessible. The advantage of being able to terminate your agreement at any moment is available to you. However, your rate will fluctuate every month, frequently with little advance notice.