Any wise consumer should definitely learn how to compare energy prices, both electricity and gas. In a report published by American Coalition for Clean Coal Electricity entitled “Energy Cost Impacts on American Families, 2001–2012,” while energy prices were going up in 2007, the average family income did not. This decreased the total median household income to over 5%.
Electric Costs among Regions
Using the new comparison year-on-year data provided by the U.S. Energy Information Administration (EIA), let us compare electricity rates.
All states in the country, including Hawaii and Alaska, have experienced an increase in total average electricity bill from 2013 to 2014. However, nothing compares to the New England region whose total energy price jumped to over 15%. While in 2013, the average rate was 16.35 cents per kilowatt, today it has gone up to 18.17 cents. Of all the states in the region, on the other hand, Rhode Island possesses the highest increase at 3.24.
Please note this information was taken from the New York State Public Service Commission (NYSPSC) – Aggregation Guide. We are posting it on our site as we feel that it is relevant to our customers.
As a result of progressive changes to New York State energy policy in recent years, more than a million business and residential customers in New York State are now taking advantage of the opportunity to purchase their electricity and natural gas from energy service companies (ESCOs). Customers that were once required to purchase their energy exclusively from local utilities can now buy their electricity and natural gas supply from ESCOs. This can result in energy cost savings and provide access to non-traditional energy-related products and services.
Learning about the competitive energy marketplace, and how to take advantage of it, requires the understanding of some basic information.
Your energy bill consists of two parts – supply and delivery. The supply portion of your bill is now open to competition, and you can purchase this supply from ESCOs or your existing utility. The delivery portion of your energy service will continue to be provided only by your local utility.