• FAQ’s

    FAQ’s

FAQs

What is an ESCO?
An ESCO is an Energy Services Company that supplies electricity or natural gas to consumers. The ESCO business started in 1996 when the NYS Public Service Commission deregulated the energy market so consumers would have a choice of where they purchase energy supply. Before ESCOs, consumers were forced to buy energy from the utility that operated as a monopoly in their region, but now consumers can choose an ESCO such as Galaxy Energy to supply electricity and natural gas at competitive rates.

Is Con Edison OK with customers buying electricity from other suppliers?
Yes, Con Edison’s primary business role is energy delivery, and ESCOs are in the business of energy supply.

How can Galaxy Energy save me money?
When New York deregulated its energy market it opened the industry to competition and allowed companies like Galaxy Energy to buy electricity in the wholesale market and pass the savings onto our customers. Our electricity flows into the utilities transmission lines and is delivered to your home or business just as it always has. The only difference will be a new, competitive electricity rate on the supply portion of your bill.

Does the utility company still service my account?
Yes, you are still a customer of your local utility. They will continue to read your meter and provide services as they always have such as billing, customer service, and emergency services.

Will my service be interrupted when I change my supply over to Galaxy Energy?
No, the transition is seamless and the only difference you will notice is your new energy rate.

What are the electricity rates?
The electricity rate is the amount of dollars spent per a kilowatt hour. All clients have the opportunity to choose either a fixed rate plan or a variable rate plan.

What is a Fixed Rate plan?
A fixed rate plan is a predetermined rate for a predetermined amount of time that you as the customer will pay every billing period. No matter what happens to energy prices, in a fixed rate plan, your rate stays the same.

What is a Variable Rate plan?
With a variable rate plan, the rate fluctuates with the market and changes from each billing period.

How much cheaper are your rates?
Our rates can be up to 10% cheaper than that of Con Ed.

How are you able to charge cheaper rates?
We buy energy in the wholesale market as well as the financial markets to strategically position ourselves to supply energy at competitive prices.

Who do I pay?
You continue to pay your current utility company just as you always have. The only difference will be in the supply section where Galaxy Energy will be listed as your supplier and the rate will be Galaxy Energy’s rate.

Are there fees to join or cancel?
There are no start-up fees or hidden charges, and no penalties if you decide to leave us. If you choose a fixed price offer, you must stay with us for the predetermined time period.