Rate Information

Service, Rates, and Regulations

Current Electric Rates 

Find information regarding your electric service and current rates.

Power Supply Charges

The Power Supply Charge is a direct pass-through that recovers the cost of fuel and electricity we buy on behalf of our customers. It is mostly the cost of fuels (primarily natural gas) used at Long Island power plants, which we do not own. We also purchase power from Independent Power Producers both on and off Long Island.

Monthly changes in price are primarily attributable to fluctuations in the difference between projected and actual costs. Changes in the total amount charged on the bill are also affected by the amount of energy used and will fluctuate based on changes in use. The COVID-19 pandemic has created greater than usual fluctuations in customer use.

Time of Use Rate

PSEG Long Island’s Time of Use (TOU) rate options provide customers with new savings opportunities based on their lifestyles. TOU rates give you access to lower electricity prices at different times of the day, similar to other types of “off-peak” pricing. A few simple changes to switch energy use to lower-priced time periods can make a big difference, but these rates are not right for everyone. In 2021, we’ll also launch an online Rate Comparison tool to help you quickly calculate the best rate for your household, based your actual energy use.

Switching to one of the new TOU rates is easy. If you find it’s not right for you, you can just as easily switch back to a standard, non-TOU rate at any time.

Residential TOU Electric Rates
In 2021, four new “time-of-use” (TOU) rates are available to customers with smart meters. Unlike a standard rate, like 180, pricing for a TOU rate does change based on the time of day. Electricity costs more during “peak” times and less during “off-peak” times. This offers new savings opportunities, for example by charging an electric vehicle overnight. Just be aware that peak pricing can be as much as two times standard rates.

 
Commercial TOU Electric Rate
New for 2021 Rate 292 is a pilot Time-of-Use rate that offers new opportunities for your business to save money.


Use Energy Like Never Before

Shifting energy use with TOU helps make energy demand more manageable, meaning we can provide energy that is cleaner and more efficient, to give you access to the best price possible.

Revenue Decoupling

The Revenue Decoupling Adjustment (RDA) on your bill is not as intimidating as it sounds. Let us explain...

Revenue Decoupling is not unique to PSEG Long Island

Revenue Decoupling is used in many other states and has already been in use by every other major utility in New York State. The New York State Department of Public Service (DPS) recommended to LIPA that Revenue Decoupling be adopted here and it was approved by the LIPA Board of Trustees in 2015.

PSEG Long Island encourages you to use less of our product

Most companies collect revenue by getting you to buy as much of their products as they can. Every time you flip on your lights or the TV, you're buying our product - electricity. But one of our main goals is to help you use less electricity.

That creates an issue: selling less electricity creates less revenue. And without enough revenue, we would not be able to deliver reliable electric service and quality customer service for millions of people and thousands of companies from Queens to Montauk, 24 hours a day, 7 days a week.

The money that's required each year in order to provide our services to you is outlined in our annual budget. That budgeted revenue, which is authorized by LIPA, is then compared with the actual revenue collected from electric rates. The difference between actual revenues and budgeted revenues creates the Revenue Decoupling Adjustment.

Encouraging energy savings

By separating - or "decoupling" - rate revenue from the amount of energy used by customers, utility budgets are less dependent on selling energy. That removes a major obstacle that could otherwise stand in the way of supporting energy efficiency.

The RDA adjusts bills based on how actual revenue compares to budgeted revenue. Any excess revenue is refunded to customers as a credit adjustment. If revenue falls short, the RDA is a charge to ensure enough funds are available for us to continue to deliver reliable service.

The RDA does not increase our profits

PSEG Long Island earns money from a flat fee for managing the electric system. We do not earn even a penny from the RDA. Every dollar of revenue collected from electric rates is used to run the system and invest in reliability improvements.

You have the power to save

Rest assured that if the RDA is a charge, you still have an incentive to reduce your bill by using less electricity. Our responsibility is to provide programs and resources that make it easier for you to save energy and money. We encourage you to take advantage of these opportunities. Even simple changes in behavior like turning off the lights when you leave a room can save. Or explore our rebate programs that reduce the cost of energy efficient appliances and products.

FAQ

Delivery Service Adjustment (DSA)

This line item on the bill, which can be a credit returned to you or a charge, creates a better way to account for unpredictable costs that are part of providing you with electric service. The goal is long-term electric rate stability.

PSEG Long Island's annual budget is based on what we anticipate it will cost to provide you with safe, reliable and resilient energy, along with all of our other services. The budget includes a certain amount for things like storm repairs to poles and wires.

The Delivery Service Adjustment (DSA) reconciles the difference between some of our budgeted expenses and the actual cost. When costs are less than expected, like when storms haven't been so bad, the DSA is a credit to refund money to customers. When the unexpected happens and costs exceed the projected budget, like when there's a really bad storm, the DSA is applied to the bill as a charge to recover those costs.

Storm repairs are just one unpredictable cost. There are also costs related to borrowing money for electric system improvements. These costs have always been part of your electric bill. The DSA provides a new level of transparency and a better way of accounting for those costs.

Less unpredictability creates greater financial stability - and that pays off, for example, with better interest rates on loans.

FAQ