Electric Rates

New York News
4:53 pm
Thu January 24, 2013

NY wholesale electric rates hit 12-year low

RENSSELAER, N.Y. (AP) — New York's electrical grid operator says the average price of wholesale electricity hit a 12-year low last year, thanks to a glut of cheap natural gas and market competition that drives greater efficiency.

The New York Independent System Operator, or NYISO, said Wednesday that the average annual wholesale price of electric energy in the state was $45.23 per megawatt hour. The previous record low was $48.63 in 2009.

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