New York residential electricity rates

Analyst note

The New York residential price sat above the U.S. average in 10 of 10 years; the gap was +5.89 ¢ in 2015 and +7.95 ¢ in 2024. In the 2024 ranking New York sits between Alaska (24.82 ¢) one place above and Maine (24.29 ¢) one place below; the top of the list is 18.43 ¢ away and the bottom 12.92 ¢. New York was 6th in 2015 with 18.54 ¢ and is 7th now; a fall in the table. New York residential prices rose in 7 of 9 years. The largest rise was +13.3% in 2022, and the largest fall -5.2% in 2016. The New York price peaked at 24.43 ¢ in 2024 and bottomed at 17.58 ¢ in 2016; 2024 is the peak and +39.0% from the low. Compounded, that is +3.11% a year in New York, +0.13 points against the U.S. New York buys 3.43% of all U.S. residential electricity with 5.18% of the accounts, so the average New York account uses 0.66 times the national average.

New York residential customers paid 24.43 ¢ in 2024, which puts the state 7th of 51, a top-ten position, 7.95 ¢ over the U.S. Nine years moved the New York residential price +31.8% (+3.1% a year), level with the U.S. by 1.5 points. The sharpest year was 2022 at +13.3%; the peak came in 2024.

The latest New York year moved +9.8%, so prices are still climbing. The New York commercial price of 18.77 ¢ sits 5.66 ¢ below. A New York residential account uses 571 kWh a month; priced at 24.43 ¢ that is about $140, and the sector buys 36.2% of New York's power.

Counting revenue instead of kWh, New York residential accounts bring in 45.7% of New York sector revenue on 36.9% of the kWh, a premium of 8.7 points that comes from the price level: 24.43 ¢ here against 18.77 ¢ for commercial and 9.17 ¢ for industrial accounts. The average New York residential account uses 571 kWh a month, 46 of 51 among states on that measure; a commercial account uses 8.91 times as much and a industrial account 138.87 times. Residential accounts are 86.28% of the 8,600,588 accounts in New York.