Compare New York electricity rates and plans (March 2025)

What to know about electricity rates in New York

• The average New York electricity rate is 21.58 cents per kWh while the average national rate is 16.06 cents
• The cheapest electricity rate is 3.53 cents per kWh for New York residents
• New York's deregulated electricity market includes 170 providers

Best New York electricity rates

New York electricity rates range from 3.53 cents to 38.16 cents per kWh. The rates you find vary depending on the providers and plans available to you, and comparing companies is the best way to find better rates. Below are some rates from popular electric companies in New York.

Because New York has a deregulated electricity market, you have the flexibility to shop around for a cheaper electricity bill. Many states don't offer this choice. If you're looking to reduce your energy bill, consider switching to a different provider or plan. New York electricity providers offer different types of plans for residents and businesses to satisfy a range of needs.

Average cost of electricity in New York

According to our data, the average electricity rate in New York is 21.58 cents per kWh. This equates to an average residential bill of $134.58 per month. The national average rate is 16.06 cents per kWh, and New York ranks as the 43rd lowest priced state in the nation.

Since the average price is 21.58 cents per kWh or $134.58 per month for residential electricity, prices lower than these can be considered affordable. Electricity rates in New York depend on your home size and usage, so the kWh rate is more useful when comparing your rate to the average.

Best electricity plans

In New York, the best electricity plans provide competitive rates, renewable energy options, and fixed or variable pricing. Top providers offer reliability, transparency, and customer incentives so you can save money and enjoy responsive support.

We've analyzed the prices, terms, and conditions of popular New York electricity plans. Below are our picks for the best residential plans in the state.

Provider	Contract Term	Rate	Plan
	12 months	9.39¢/kWh	See Plan
	12 months	9.79¢/kWh	See Plan
	12 months	11.49¢/kWh	See Plan
	12 months	12.99¢/kWh	See Plan
	12 months	15.99¢/kWh	See Plan
See All Plans

Compare New York electricity providers

There are 103 electricity providers in New York. While some providers only serve specific areas, you have multiple options for electricity wherever you are. Different providers can offer different specials, plan types, and sales throughout the year. However, always read the fine print of the energy plans you consider to avoid hidden penalties.

Business electricity rates in New York

Commercial rates are typically cheaper than residential rates in New York because businesses consume much more energy than homes on average. Businesses basically get a volume discount on electricity since they use so much. Our data shows the average business in New York pays 18.49 cents per kWh for electricity and has an average bill of $51,071 per month.

Finding ways to reduce overhead costs is essential as a business owner. You have the opportunity to do that in a deregulated electricity market. Even reducing your electricity by one or two cents per kWh can make a huge difference when you have a high monthly bill. Compare commercial electricity rates to find the plan that makes the most sense for your business.

Best commercial electricity plans

Below are the top commercial electricity plans in New York.

Provider	Contract Term	Rate	Plan
	12 months	7.856¢/kWh	See Plan
	24 months	7.876¢/kWh	See Plan
	36 months	7.957¢/kWh	See Plan
	18 months	7.966¢/kWh	See Plan
	30 months	7.972¢/kWh	See Plan
	6 months	8.041¢/kWh	See Plan
	42 months	8.060¢/kWh	See Plan
	48 months	8.093¢/kWh	See Plan
	54 months	8.213¢/kWh	See Plan
	60 months	8.267¢/kWh	See Plan
	12 months	8.296¢/kWh	See Plan
	12 months	8.300¢/kWh	See Plan
	24 months	8.300¢/kWh	See Plan
	24 months	8.331¢/kWh	See Plan
	18 months	8.400¢/kWh	See Plan
	30 months	8.400¢/kWh	See Plan
	36 months	8.400¢/kWh	See Plan
	36 months	8.416¢/kWh	See Plan
	18 months	8.430¢/kWh	See Plan
	30 months	8.438¢/kWh	See Plan
	6 months	8.500¢/kWh	See Plan
	42 months	8.500¢/kWh	See Plan
	48 months	8.500¢/kWh	See Plan
	42 months	8.524¢/kWh	See Plan
	6 months	8.531¢/kWh	See Plan
	48 months	8.551¢/kWh	See Plan
	12 months	8.600¢/kWh	See Plan
	24 months	8.600¢/kWh	See Plan
	54 months	8.600¢/kWh	See Plan
	54 months	8.674¢/kWh	See Plan
	18 months	8.700¢/kWh	See Plan
	36 months	8.700¢/kWh	See Plan
	60 months	8.700¢/kWh	See Plan
	60 months	8.722¢/kWh	See Plan
	6 months	8.800¢/kWh	See Plan
	12 months	8.800¢/kWh	See Plan
	30 months	8.800¢/kWh	See Plan
	42 months	8.800¢/kWh	See Plan
	48 months	8.800¢/kWh	See Plan
	18 months	8.900¢/kWh	See Plan
	24 months	8.900¢/kWh	See Plan
	6 months	9.000¢/kWh	See Plan
	30 months	9.000¢/kWh	See Plan
	36 months	9.000¢/kWh	See Plan
	54 months	9.000¢/kWh	See Plan
	60 months	9.000¢/kWh	See Plan
	42 months	9.100¢/kWh	See Plan
	48 months	9.100¢/kWh	See Plan
	12 months	9.200¢/kWh	See Plan
	24 months	9.200¢/kWh	See Plan
	12 months	9.252¢/kWh	See Plan
	24 months	9.281¢/kWh	See Plan
	12 months	9.292¢/kWh	See Plan
	18 months	9.300¢/kWh	See Plan
	30 months	9.300¢/kWh	See Plan
	36 months	9.300¢/kWh	See Plan
	54 months	9.300¢/kWh	See Plan
	60 months	9.300¢/kWh	See Plan
	24 months	9.318¢/kWh	See Plan
	12 months	9.338¢/kWh	See Plan
	18 months	9.348¢/kWh	See Plan
	30 months	9.374¢/kWh	See Plan
	24 months	9.376¢/kWh	See Plan
	36 months	9.389¢/kWh	See Plan
	12 months	9.400¢/kWh	See Plan
	42 months	9.400¢/kWh	See Plan
	6 months	9.401¢/kWh	See Plan
	36 months	9.430¢/kWh	See Plan
	18 months	9.433¢/kWh	See Plan
	30 months	9.439¢/kWh	See Plan
	18 months	9.450¢/kWh	See Plan
	30 months	9.476¢/kWh	See Plan
	36 months	9.482¢/kWh	See Plan
	6 months	9.500¢/kWh	See Plan
	24 months	9.500¢/kWh	See Plan
	42 months	9.500¢/kWh	See Plan
	48 months	9.500¢/kWh	See Plan
	6 months	9.507¢/kWh	See Plan
	12 months	9.551¢/kWh	See Plan
	42 months	9.565¢/kWh	See Plan
	48 months	9.568¢/kWh	See Plan
	6 months	9.580¢/kWh	See Plan
	42 months	9.594¢/kWh	See Plan
	24 months	9.599¢/kWh	See Plan
	12 months	9.600¢/kWh	See Plan
	18 months	9.600¢/kWh	See Plan
	24 months	9.600¢/kWh	See Plan
	30 months	9.600¢/kWh	See Plan
	36 months	9.600¢/kWh	See Plan
	54 months	9.600¢/kWh	See Plan
	48 months	9.617¢/kWh	See Plan
	48 months	9.649¢/kWh	See Plan
	18 months	9.673¢/kWh	See Plan
	24 months	9.690¢/kWh	See Plan
	36 months	9.698¢/kWh	See Plan
	6 months	9.700¢/kWh	See Plan
	12 months	9.700¢/kWh	See Plan
	18 months	9.700¢/kWh	See Plan
	24 months	9.700¢/kWh	See Plan
	30 months	9.700¢/kWh	See Plan
See All Plans

How to switch New York electricity companies

Since New York's energy market underwent deregulation, residents and businesses have gained the power to choose their electricity suppliers from multiple providers.

You can switch companies by following these steps:

• Verify your eligibility to switch providers in your service area
• Compare rates and plans from different Energy Service Companies (ESCOs)
• Review contract terms and potential fees
• Select a plan that matches your energy needs
• Complete the enrollment process with your chosen supplier

The switch typically takes five business days, and you won't experience any service interruption.

Remember to check for early termination fees if you're currently under contract, and confirm your account is in good standing before initiating the change.

When is the best time to switch energy providers in New York?

Timing your switch to a new energy provider in New York can greatly impact your utility costs throughout the year.

You'll find the most competitive rates during periods of lower energy demand, specifically from late September to Halloween and late March to early May.

The switching process typically takes 1-2 billing cycles, and you won't experience any service interruption.

Your new supplier will handle the necessary notifications to your utility company.

How deregulated electricity works in New York

The electric industry in New York underwent a significant transformation when deregulation began in 1996.

The New York State Public Service Commission introduced competition by allowing customers to choose their energy providers from over 200 Energy Service Companies (ESCOs).

Under this system, the New York Independent System Operator (NYISO) manages the power grid and wholesale marketplace, where electricity is traded like stocks.

Providers compete to offer the best rates, with generators submitting price offers while utilities bid to meet demand.

Types of electricity plans in New York

Choosing your ideal electricity plan in New York requires understanding three primary options available through Energy Service Companies: fixed-rate, variable-rate, and indexed-rate plans.

Fixed-rate plans lock in your rate per kilowatt-hour for a specific term, typically ranging from 6 months to 5 years. You'll have predictable bills regardless of market conditions.

Variable-rate plans adjust monthly based on market prices, with providers required to notify you of upcoming rates.

Indexed-rate plans follow a formula tied to electricity trading markets, similar to variable rates but with more direct market influence.

Your choice should align with your energy needs and risk tolerance.

Compare New York electricity rates

Compare New York electricity rates to save money and avoid overpaying in the deregulated market. Your bill can vary greatly depending on the provider and plan structure. Take the time to read the fine print and do the math to figure out which is your best option.

New York electricity rate FAQs