New York electricity companies are one of the first things folks wonder about when they decide to move to the Big Apple. Why? Because there are so many to choose from.
If you’re moving to New York, you’re likely looking for information about New York electricity companies and utility setup, the cost of living in New York City or upstate New York, the best cities and neighborhoods, and more. To help make the search a bit easier, use this guide to steer you in the right direction whether you’re making a move to NYC or upstate New York.
Why Move to New York City?
If you’ve decided to move to the city that never sleeps, you’re probably excited but maybe a little anxious. After all, New York City is famous for so many reasons — some of them great and some of them not so much.
The Big Apple has much to offer and it’s unlike any other place you’ll ever live. Worldwide cuisine, art galleries, an exciting nightlife to suit just about everyone, Central Park, Broadway, an excellent public transportation system, and an incredibly eclectic population. Turn any corner and you’re likely to find ethnic eateries, bodegas, and all-night pharmacies. It truly is a city that never sleeps and the energy is unmatched.
New York City also is home to some of the biggest names in multiple industries from tech and finance to media and sports. In fact, except for Tokyo, NYC is home to more Fortune 500 companies than anywhere else in the world.
What Is the Weather Like In New York City?
When it comes to weather in New York City, you can expect the summers to be hot and humid, with average high temperatures of 85°F. The summer weather runs from early June to mid-September, and the warmest weather is usually in July.
Wintry weather sets in in early December and is generally on the way out by the end of January, which tends to be the coldest month. You can expect snow and wind, with temperatures averaging around 28°F. With weather like this, you’ll want a good heating and cooling system, as well as an affordable electricity provider that offers plans to suit your needs.
Is New York City Safe?
Some people may think of New York City as unsafe — but that’s a big city misconception. According to the FBI, the Big Apple is the safest big city in the United States and according to Berkshire Hathaway Travel, NYC ranks number nine on a list of safest cities in the world.
What’s the Cost of Living In NYC?
New York City is undoubtedly one of the most expensive cities to live in within the United States. According to MIT’s annual Living Wage Calculator, in New York City, a single adult with no children needs to make $21.77 an hour, some $6 more an hour than a working couple with no children ($15.10 per hour). In 2019, New York’s Minimum Wage Act set the minimum wage for NYC‘s large employers (10+ employees) at $15 per hour.
The cost of living in New York City varies from borough to borough and from neighborhood to neighborhood. (The five boroughs in NYC are the Bronx, Brooklyn, Manhattan, Queens, and Staten Island.)
In Manhattan, apartment hunting can give you real sticker shock. In Manhattan, the most expensive borough in New York City, the average rent for a 700-square-foot apartment is $4,200 for monthly rent. Add another $1,500 for groceries, entertainment, utilities, and other monthly expenses, and you’re going to need an annual salary of about $62,000 or more after taxes.
In the Bronx, that same apartment is $1,700 per month, with similar monthly expenses, and your after-tax salary of $38,000 will cover your costs.
Upfront costs are another consideration when moving to New York. As with anywhere you rent, there’s a first month‘s rent payment, plus a security deposit of a minimum of one month’s rent. Not only is the security deposit to cover any potential damages, but the landlord can also apply it to any unpaid rent.
Other costs will probably include an application fee of up to $250 and a 15% broker’s fee, where applicable. If you have a pet, a deposit is also the norm, and that varies widely. For a $3,000-per-month apartment, upfront costs could run to nearly $10,000!
Renters insurance, or tenants insurance, is a good idea. While the law requires the landlord to ensure the building, that insurance doesn’t extend to you or your possessions. In New York, a typical renter’s insurance policy runs about $300 per year for a $50,000 policy, which generally includes personal possessions, loss of use, personal liability, and medical payments to others.
What Are the Best Neighborhoods in NYC?
You’ll want to live in the best possible neighborhood, but your income will determine where you land. We’ve listed the top areas in each of the city’s five boroughs, according to Sparefoot Moving Guides. As mentioned, rent and mortgage requirements vary widely across the city.
Manhattan counts 10 great neighborhoods according to Sparefoot Moving Guides:
- Lower East Side
- Greenwich Village
- Central Harlem
- Hudson Heights
- Upper East Side
- Times Square
- West Side
Brooklyn is comprised of six wonderful neighborhoods:
- Fort Greene
- Park Slope
- Brooklyn Heights
- Cobble Hill
The Bronx is a great choice with six good areas to pick from:
- Spuyten Duyvil
- South Bronx
- Jerome Park
Queens has five wonderful neighborhoods according to Sparefoot:
- Long Island City
- Rockaway Beach
Staten Island is becoming more popular with eight lovely areas to call home:
- St. George
- New Brighton
- West Brighton
- Todt Hill
- Lighthouse Hill
- New Dorp
- Midland Beach
How Do I Find An NYC Apartment?
There’s no denying that New York City is one of the nation’s most expensive places to live. Real estate is at a premium here, and you’ll probably need a bit of luck to find the place that’s right for you. That’s because some 8.4 million people live in the city’s five boroughs, according to 2021 Census projections. While affordable living can be a challenge, the upside is the diversity of living in New York City.
Facebook Marketplace, Roomi, Spareroom, or the Listing Project are good places to begin looking. Word-of-mouth is also a good option. Be sure to tell friends and work colleagues that you’re moving to NYC and looking for a place to live — sometimes it boils down to somebody who knows somebody.
How Can I Save on Transportation Costs In NYC?
In NYC, you’ll save big if you give up your car. Like an NYC apartment, keeping a car in the city is expensive, and parking is hard to find. New York’s public transportation system (taxis, subway, buses, etc.) and good old-fashioned shoe leather are the best ways to get around town. What you save on transportation will help offset your rent costs.
Who Provides Power and How Do I Choose My New York City Energy Company?
The energy markets (electricity and natural gas) have been deregulated in New York since the 1990s, which means you can select your own electric company and electricity plan.
You can choose a traditional public utility or an Energy Services Company (ESCO) to deliver your energy service. An energy service company, such as Just Energy, competes for your business.
For instance, Just Energy offers a variety of plans and rates to fit your energy budget. You can choose from either fixed-rate or variable-rate plans and you can select green energy plans, rebates, and more.
By law, a variable-rate plan must guarantee at least an annual savings or credit your account if the cost exceeds the incumbent utility’s pricing. Many people find a fixed-rate plan attractive because it allows you to budget your energy bill and you know exactly what you’re going to pay every month.
Consolidated Edison (aka Con Edison) is the electric utility that serves New York City; several ESCOs like Just Energy provide competitive rate plans. You can visit the state’s Power to Choose site to help you navigate the many options.
As you investigate rate plans, think carefully about your peak usage period. Some questions to ask yourself:
- When do you use the most energy?
- How much power do you use?
- What’s your energy budget?
You’ll also want to review customer service ratings. You can visit the utility page of the American Customer Satisfaction Index to see what factors you should consider when looking at New York electricity companies.
What Does Energy Deregulation Do for New Yorkers?
When the energy market is deregulated, it means consumers get to choose which company supplies their energy needs. Designed to create more competitive energy rates for people, deregulation gives you the power to choose your electricity provider. This means you have more capacity to manage your energy costs to suit your specific needs and lifestyle.
When New York enacted deregulation, it didn’t mean the public utilities were disbanded. Instead, deregulation allowed the formation of ESCOs that buy energy from the utilities and sell it to you, the energy consumer. Increased competition for customers means lower rates and value-added extras that potentially save you money.
Your utility bill will look a bit different because you’re billed for power used and the cost of delivering it to your home. The energy supply costs originate with your ESCO and are based on kilowatt-hours used at the rate specified in your service contract. Also, based on usage, your utility bills you for the cost of delivering power to your home.
As an ESCO, Just Energy can help you find a rate plan type that works for you, whether it’s a variable-rate or fixed-rate plan or you want to switch to renewable energy. You can also bundle your electricity and natural gas service for more significant savings and better customer service.
Best of all, by signing with ESCOs such as Just Energy, you lock in your low electricity and natural gas rates.
What Is the Kwh Rate In New York?
According to one report published by the State of Nebraska, New York state ranks among the most expensive in the nation. With a national average cost of about 10.5 cents per kWh, New York electricity rates check in at around 14.3 cents per kWh. That’s a little less than 50% more than the national average.
It pays to do your homework and understand the differences between the tariff structures of your energy plan. Often, a variable-rate plan offers attractive initial rates. However, the electricity rate can change from month to month, sometimes drastically.
Remember: New York law requires a variable-rate plan to guarantee annual savings over the incumbent utility’s rates.
While, at first glance, a fixed-rate plan may not seem as attractive as a variable-rate plan, it does allow you to factor your utility bills into your budget because the rate is fixed and dependent only on your energy use.
Is New York State a Good Place to Live?
Moving to New York State, also known as upstate New York, means smaller cities and more rural towns, often within hailing distance of New York City.
Syracuse, Albany, Utica, Buffalo, and Rochester are modest cities without the congestion of the Big Apple. New York State is home to nearly 19.5 million people with nearly 8.4 million living in New York City, making the rest of the state far less densely populated than the city.
And for the outdoor enthusiast, there are plenty of trails to ramble, including a gorgeous stretch of the Appalachian Trail. In addition, upstate New York has some of the most spectacular green and historical places in the country.
What About New York’s Green Spaces?
Except for New York City, the state is a rural one. The state of New York has an active conservation plan for its open spaces. The state government takes the position that green space, whether forest, parks, or agricultural land, benefits the environment and promotes the general well-being of residents.
What Do I Need to Know About the New York State Housing Market?
The real estate market in upstate New York doesn’t have the square foot pricing extremes of New York City. While the market is seeing a boom, housing is generally more affordable.
The median sales price for a house varies by location and market value. But in general, you can expect to pay about $367,000 for a middle-of-the-line home. According to Zillow, prices have increased more than 14% in the last year.
For rental properties, it’s (as they say) all about location. For example, the average fair market rent for a two-bedroom home is $734 per month in Cattaraugus County (south of Buffalo). At the same time, in Saratoga County, north of Albany, the same property would go for an average of $1,117 per month.
While slightly more than the national average, housing costs upstate are significantly less expensive than in New York City.
How Many Electricity Companies Are In New York State?
New York State has seven major investor-owned utilities and small municipal and rural electric cooperatives to supply electricity and natural gas. In addition, because of deregulation, there are dozens of energy services companies (ESCOs) that provide electric and gas services to residents and businesses. These include New York State Electric & Gas (NYSEG) and Rochester Gas & Electric among others.
How Do I Choose an Energy Supplier in Upstate New York?
You can ask your landlord or real estate agent about the local utility company if you’re new to the area. However, it pays to remember that you don’t have to choose the first name that comes to you. Instead, take the time to investigate the utility’s competition. Chances are it will be cheaper to go with an ESCO.
As you consider electric rates and pricing, ask if they offer rate plans, such as variable- or fixed-rate plans. The tariffs the company provides should spell out the price per kilowatt-hour. It’s worth noting that the average home usage is under 1,000 kWh per month, less if you’re in an apartment.
Rate plans often include tiered rates, depending on the time of day. For example, from 4 p.m. or 5 p.m., evenings tend to fall into the peak usage period so that the rates will be higher than at other times of the day.
New York Electricity Companies Allow You to Choose
It’s not cheap to live in New York City. However, if you can commute from outside the city, the cost of living becomes more affordable.
Given the climate — winter snowstorms and humid summers — an affordable and reliable energy supply is a must. ESCOs such as Just Energy offer a variety of rates for electricity and natural gas to help you meet your energy needs at a price you can afford.
Brought to you by justenergy.com
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The post Moving to New York: A Guide to New York Electricity Companies and Utility Setup appeared first on Just Energy.
By: Just Energy
Title: Moving to New York: A Guide to New York Electricity Companies and Utility Setup
Sourced From: justenergy.com/blog/moving-to-new-york-guide-new-york-electricity-companies-utility-setup/
Published Date: Mon, 29 Nov 2021 15:58:15 +0000