Dive Summary:
- New York’s Public Service Commission has reviewed the operations of more than 100 retailers that arose after the utility industry was deregulated in the 1990s.
- The retailers, which promised lower rates through competition, supply gas and electricity over the lines of traditional utilities, including National Grid, New York State Electric and Gas Co., and Consolidated Edison.
- The initial review finds that many New Yorkers, including those in low-income neighborhoods, paid much more than if they had stayed with the big utilities, despite the initial discounts offered by the independent providers.
From the article:
Many New Yorkers who took advantage of initial discounts in aggressive campaigns by independent, retail energy providers are actually paying more for electricity and natural gas than if they stayed with the major utilities, according to the state Public Service Commission.
On Thursday the PSC decided to review the operation of more than 100 retailers that arose from deregulation of the utility industry in New York in the late 1990s, which promised lower rates through competition. The retailers supply gas and electricity over the lines of traditional utilities, including National Grid, New York State Electric and Gas Co. and Consolidated Edison. ...
