Electricity Price History in New York
New York residential electricity averaged 29.93¢/kWh in May 2026. Below is the year-by-year record — the average rate for each year and how much it changed from the year before — followed by what the series does and does not show about New York prices. Data comes from EIA residential retail sales.
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Price Trend
New York electricity rates by year
| Year | Average rate | Change (¢/kWh) | Change (%) | Compared with |
|---|---|---|---|---|
| 2026 (Jan–May) | 29.26 ¢/kWh | +3.38 | +13.1% | Jan–May 2025 (25.88¢) |
| 2025 | 26.40 ¢/kWh | +2.04 | +8.4% | 2024 (24.36¢) |
| 2024 | 24.36 ¢/kWh | +2.20 | +9.9% | 2023 (22.16¢) |
| 2023 | 22.16 ¢/kWh | +0.04 | +0.2% | 2022 (22.12¢) |
| 2022 | 22.12 ¢/kWh | +2.65 | +13.6% | 2021 (19.47¢) |
| 2021 | 19.47 ¢/kWh | +1.14 | +6.2% | 2020 (18.33¢) |
| 2020 | 18.33 ¢/kWh | +0.42 | +2.4% | 2019 (17.91¢) |
| 2019 | 17.91 ¢/kWh | −0.57 | −3.1% | 2018 (18.47¢) |
| 2018 | 18.47 ¢/kWh | +0.47 | +2.6% | 2017 (18.00¢) |
| 2017 | 18.00 ¢/kWh | +0.46 | +2.6% | 2016 (17.54¢) |
| 2016 | 17.54 ¢/kWh | −0.96 | −5.2% | 2015 (18.50¢) |
Yearly figures are the average of the monthly EIA residential rates for that year. A year that is incomplete is labelled with the months it covers, and its change is measured against the same months of the previous year — residential rates are seasonal, so comparing a part-year against a full year would measure the season rather than the trend. Every row carries its own change, including the oldest one shown: its comparison year is the year immediately before the table starts. Where a comparison period is missing entirely, the change columns are left blank rather than filled with a zero.
Why did electricity prices rise in New York?
What the EIA series shows
- Past 12 months (May 2025 → May 2026)
- The New York residential rate rose 12.1% (+3.24¢/kWh), from 26.69¢ in May 2025 to 29.93¢ in May 2026.
- Past 5 years (May 2021 → May 2026)
- The rate rose 50.2% (+10.00¢/kWh), from 19.93¢ in May 2021 to 29.93¢ in May 2026.
- Past 10 years (May 2016 → May 2026)
- The rate rose 69.0% (+12.22¢/kWh), from 17.71¢ in May 2016 to 29.93¢ in May 2026.
- Highest and lowest month on record
- In this series the New York rate peaked at 29.99¢/kWh in February 2026 and bottomed at 12.69¢/kWh in April 2002. The series covers January 2001 to May 2026.
- Steepest 12-month increase
- The largest single-year move in the series ended in January 2006: the rate rose 18.2% (+2.56¢/kWh), from 14.05¢ in January 2005 to 16.61¢ in January 2006. That is when the change happened; the series does not say what caused it.
- Against the rest of the country
- Over the same window the unweighted average across the 51 jurisdictions with data for this period rose 34.4%, so New York's +50.2% outpaced the nationwide move by 15.7 percentage points. That gap is the part of the movement this dataset cannot attribute to a nationwide trend — it does not identify what else was involved.
- Rank among jurisdictions (May 2021 → May 2026)
- Measured over that identical five-year window, New York's change is the 8th largest of the 51 jurisdictions whose series covers it — rank 1 is the biggest increase, rank 51 the biggest decrease. The rank places the movement; it does not explain it.
What can move rates in New York — context, not proof
A rate series shows what changed, not why. The factors below are reviewed context for New York maintained separately from the price data — they are not causes measured from the movement above, and no share of the change is attributed to any of them.
- High-density distribution infrastructure costs (Distribution Costs) — Maintaining and upgrading underground distribution networks in dense urban areas like New York City is significantly more expensive than overhead lines in less populated regions. Confidence: high; reviewed 2026-02-22.
- NYISO capacity market obligations (Capacity Markets) — New York participates in the NYISO capacity market, where generators are compensated for availability. Capacity costs are passed through to retail customers and can be a meaningful component of total rates. Confidence: high; reviewed 2026-02-22.
- State taxes and clean energy surcharges (Taxes & Fees) — New York applies state-level taxes and surcharges related to clean energy programs and system benefit charges that increase the all-in cost of electricity. Confidence: medium; reviewed 2026-02-22.
New York electricity price drivers · How generation and fuel costs feed into retail rates · How these figures are calculated
More Data & Comparisons
- Electricity inflation in New York — Price growth, trends, rankings
- Electricity cost in New York — Rates, value score, affordability
- Average electricity bill in New York — Monthly and annual bill estimates
- New York electricity rates — Statewide overview and how New York ranks
- Electricity cost calculator for New York — Usage-based estimates
- Full New York knowledge page — Rates, value score, affordability, trends
- All states price history
Frequently Asked Questions
- How much have electricity prices changed in New York?
- Electricity prices in New York have increased 50.2% over the past 5 years. The 1-year increase is 12.1%. The annualized 5-year increase is approximately 8.5% per year.
- What drove the change in New York electricity prices?
- Measured from EIA residential data, the New York rate rose 50.2% (+10.00¢/kWh), from 19.93¢ in May 2021 to 29.93¢ in May 2026. The series itself does not identify a cause. Reviewed context for New York points to high-density distribution infrastructure costs, nyiso capacity market obligations, state taxes and clean energy surcharges — documented factors, not measured contributions to the change above.
- When were New York electricity rates highest and lowest?
- In EIA residential data covering January 2001 to May 2026, the New York rate was highest at 29.99¢/kWh in February 2026 and lowest at 12.69¢/kWh in April 2002. The most recent reading is 29.93¢/kWh in May 2026.