The State Public Service Commission (PSC) announced that customers can expect to see lower prices for electricity this summer as they prepare for high demand.
According to a report from the PSC, the average supply costs for New York customers are expected to be around $214.81 — a 3% decrease from a year ago, which was $221.77. The total actual costs will vary depending on usage and region.
The demand for electricity for this summer is forecasted to be 32,048 MW, which is higher than last year’s peak of 30,505. However, the report says that New York is prepared with 41,148 MW worth of resources.
As of this year, the record for the highest peak demand for electricity was the summer of 2013 — with 33,955 MW.
Rory M. Christian, the chair of the PSC, says that they will continue to invest in the development of cleaner energy.
“Most of New York is expected to experience lower energy prices this year than last year, and that is good news for residential and business customers,” Christian said. “We will use this reprieve from high energy prices to continue making investments in developing a clean-energy grid that will help us all combat climate change.”
Due to energy efficiency, the commission says that they expect the peak demand for 2026 to be 2,000 MW less than the 2016 forecast.
