Citation:
Abstract:
The restructuring of the energy industry from regulated vertically-integrated monopolies to competitive markets has been described as "one of the largest single industrial reorganizations in the history of the world." With 9.4 million residential and 1.2 million business electric and natural gas accounts able to choose among a number of energy providers, New York State is recognized as a leader in this area. New York has adopted a flexible approach which has allowed policies to be guided and shaped by the successes and challenges experienced in this and other states, and by continuously evolving market conditions.
This approach has required an ongoing appraisal of the status of New York's markets and the identification of further steps to be taken to promote the long-range vision adopted by the New York State Public Service Commission (NYPSC or the Commission). As a part of that ongoing effort, this report assesses the current state of New York's wholesale electric markets and retail electric and gas markets, describes progress that has been made over the past several years in creating such markets, and identifies opportunities for continued progress toward robust competition in New York State's energy industry.