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Energy Service Companies Can Save New Yorkers Billions Of Dollars – According To New Data Filed With The Public Service Commission

Data Shows Individual Customers Could Save Between $120 and $210 Per Year

Albany, NY – A report filed today with the New York Public Service Commission (PSC) showed that energy service companies (ESCOs) can save New York energy consumers billions of dollars on energy costs.

The data from 2011-2016 indicates that if one tenth of New York consumers shopped for the best ESCO deal, they would have saved nearly $2 billion.

The numbers are staggering when the data from every consumer is analyzed – showing that if every New Yorker from 2011-2016 shopped for the best ESCO deal for electrical service, the savings would hit $18 billion.

Data indicates that if consumers spend just 15 minutes per month shopping for a variable rate ESCO plan, they could save between $120 and $210 per year, compared to the utility default rate in the area.

Further analysis showed that consumers shopping once a year for 12-month fixed rate plans would have shielded themselves from the volatility of utility default service rates and saved more than $1.6 billion since 2011.

ESCOs bring other benefits to New York, including increased competition in the energy market. Unlike utilities, where consumers are automatically assigned to an outdated state-protected monopoly system, service from an ESCO is an option for consumers. Consumers can freely choose whether or not to purchase energy products from ESCOs, bringing more choice to the market and increasing cost savings for consumers.

Also filed today with the Public Service Commission was new analysis outlining the effectiveness of New York's competitive market and recommendations on how to improve consumer protections in the market.

With its ambitious energy goals, the State of New York benefits from ESCOs. Consumers have the option to purchase clean and renewable power from ESCOs produced by wind and solar generating sources. This also incentivizes other energy companies to provide renewable options.

ESCOs continually invest in new technology and lead in product and service innovation. This innovation means more efficient products in the New York market like smart thermostats, which allow consumers to take control of their energy usage. ESCOs are further delivering positive environmental outcomes and lowering overall energy costs.

The data is clear: when consumers shop for electricity, they save. Shopping for ESCOs offers consumers the choice of multiple plans and services and savings through efficient and clean energy services.

To view the PSC testimony and more, click here:




For more information contact:

Jessica Mahaffey
Vice President, Corporate Affairs

Direct Energy is one of North America's largest energy and energy-related services providers with nearly five million residential and commercial customers. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world's leading integrated energy companies, Direct Energy operates in 50 U.S. states plus the District of Columbia and 10 provinces in Canada.

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