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New York

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The New York Grid

New York is a powerhouse of a state. New York harbor has a petroleum storage capacity of 75 million barrels and the Niagra power plant produces 2353 megawatts of electricity. (Nuclear is the state’s largest power source, but renewables are a close second!) Registering an extremely low per capita usage, New Yorkers also seem to be particularly good at conserving electricity. Nevertheless, they seem to be paying exceptionally high rates for their electricity.

If you live in New York and you’re still buying electricity from your local utility, you may be able to cut down on your costs by switching energy retailers. This relatively painless switch is low-risk and could end up providing big benefits.

Using the Market

There are a few different variables to consider for these contracts:

  • What rate is the company offering?
  • Will that rate change from month to month?
  • How long is the contract?
  • Does the company offer a bonus for signing up with them?
  • Where does the energy come from? (e.g., nuclear or solar?)

Even after selecting a new company, households will receive their electricity through the same wires as before. They’ll be protected by the same guarantees from their local utility and government. The only difference to them is the savings on their monthly bill!

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