Electricity Price History in New York
Electricity cost depends on monthly usage and your state's rate. Below are historical rate trends and price change metrics for New York. Data comes from EIA residential retail sales.
Current rate
23.87 ¢/kWh
1-year increase
+12.2%
5-year increase
+50.0%
Price Trend
Summary
Electricity prices in New York have increased 50.0% over the past 5 years. One year ago the rate was 24.41¢/kWh; it is now 23.87¢/kWh. Five years ago the rate was 18.26¢/kWh.
More Data & Comparisons
- Electricity cost in New York — Rates, value score, affordability
- Average electricity bill in New York — Monthly and annual bill estimates
- 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 increased in New York?
- Electricity prices in New York have increased 50.0% over the past 5 years. The 1-year increase is 12.2%. The annualized 5-year increase is approximately 8.4% per year.
- Why do electricity prices change?
- Electricity prices change due to fuel costs (natural gas, coal, renewables), transmission and distribution investments, regulatory policies, demand patterns, and weather. State-level rates also reflect local generation mix and market structure.
- Are electricity prices rising faster than inflation?
- It varies by state and period. The U.S. Bureau of Labor Statistics reports that electricity prices have often risen faster than overall inflation in recent years due to grid modernization, renewable mandates, and fuel cost volatility. Compare your state's annualized increase to CPI inflation.