New York was rated as the second-best state in the country for energy choice, giving its residents ample options when it comes to the decision to switch electricity suppliers, according to a yearly study that looks at the success of deregulated electricity markets.
According to the Albany Times Union, New York deregulated its market in the late 1990s, which forced many of the region’s utilities to sell their generating plants, in turn driving up competition among suppliers. The move also led to many changes in the way electricity is bought, sold and distributed to customers.
The report noted that New York currently has 88 retail energy providers operating within its borders – second only to Texas, which was the only state to receive an excellent rating.
The media outlet stated that thanks to the dozens of suppliers that have moved to the area, customers with regional utility National Grid can now choose a new energy supplier, which often comes with major discounts. Also, customers can choose completely green electricity options, in which their electricity is derived only by renewable energy sources.
New York, along with the majority of deregulated states save for California, New Hampshire, Rhode Island and Michigan, received a good rating.