Drop in NY Electrical Rates

NY electrical provider, National Grid recently announced that commercial customers can expect to see significant decreases on their electric bills beginning in 2012. Kenneth Daly, President of National Grid’s New York operations, said small business customers could see their bills go down by roughly 11 percent, while manufacturers and other large industrial customers could see their bills drop by as much as 40 percent. The rate reductions will come as a result of the expiration of competitive transition charges implemented in 2001.

This news will play a significant role in BNE attraction efforts, as power costs and transmission are often critical issues for companies locating to our region. Especially within the industries that generally require a large amount of power. The Buffalo Niagara Region already offers low –cost hydro power, at below market rate to new companies locating in the WNY area. When hydro-power is coupled with overall lower power costs, our region will become a much more attractive place for high power consuming companies. Depending on the size of the business, savings could range anywhere from $1,000 to $20,000 per month, creating a huge impact on a company’s ability to invest in their process or hire employees.
Megan Rasbeck, Marketing and Communications Specialist
Buffalo Niagara Enterprise

About Jenna Kavanaugh

Director, Marketing & Communications Buffalo Niagara Enterprise

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