It’s been a minute since we talked about the upcoming New York Public Service Commission (PSC) Reset Order. Let’s make sure you have all your bases covered before it goes into effect, which is now on April 16, 2021.* The previous date was February 14, but you now have an extra 2 months to prepare. The order has significant implications to anyone building with Stream in New York, so read carefully!
What Is It?
Way back in December 2019, the New York PSC adopted an order requiring all retail energy companies (like Stream) operating in the market to make changes to the products they offer to meet certain standards.
Stream set to work on creating a compliant plan, Stream Green 50, to ensure we can continue doing business in New York. Stream Green 50 follows the incumbent utility’s pricing with an added monthly charge of $4.95** to help offset 50% in-state renewable energy.
What Does It Mean?
As of April 16, Stream Green 50, a variable-price residential electricity plan, will be the only offer available in New York for new and existing customers. So here’s what that means:
Existing Fixed-Price Customers
- Existing customers on a fixed-price electricity plan will keep their current plan until their term ends. Upon expiration, customers will continue to Stream Green 50 and will begin receiving the benefits of the product.
- Existing customers on a fixed-price gas plan will keep their current plan until their term ends. Upon expiration, their service will continue on a variable month-to-month pricing plan.
Existing Variable-Price Customers
- For both electricity and gas customers, their variable plan will continue as-is. Customers on Cash Back plans will continue to receive the Cash Back benefit. They will not be returned to the incumbent.
- Electricity customers can switch to Stream Green 50 at any time.
- Existing variable gas customers won’t be able to convert to a different gas plan through Stream because there won’t be any gas offers after April 16.
To prepare, you can contact your eligible energy customers personally to get them enrolled in the new plan. For more details on how to do that, make sure to check out the FAQ below.
*The order’s effective date of April 16, 2021 is subject to delay or change based on further developments with the New York PSC and the legal and regulatory process.
**Monthly charge applicable in all utilities except NatGrid, where premium will be included in the price..