The Business Incentive Rate (BIR) offers special reduced energy rates to attract and retain businesses and jobs in New York City and Westchester County.
How It Works:
Businesses that reoccupy vacant commercial or industrial buildings, move into newly constructed ones, construct biomedical research facilities, or negotiate a comprehensive package of incentives from state or local authorities, or are designated as Business Incubators or are Business Incubator graduates may qualify for reduced electric rates.
- A basic requirement for this special rate is that you must be receiving a substantial real property tax incentive from NY City or Westchester County or energy rebates under the New York City Energy Cost Savings Program; additionally, your business premises must undergo an energy efficiency survey.
- Application for the BIR must be made within 30 days of the application to state or local governmental authorities for tax incentives or energy rebates.
Who Is Eligible:
- For vacant premises, you can qualify if at least 75 percent of your building was unoccupied for 12 consecutive months out of the 24 months preceding the rate application.
- For new premises, your building must be new construction and not an addition or extension to an existing building.
- For existing premises, you must be receiving a comprehensive package of economic incentives from state or local authorities.
- Not-for-profit institutions occupying newly constructed or converted space contained in new or renovated buildings where the space is solely or predominantly used for biomedical research and receive a comprehensive package of incentives from state or local authorities.
- For Business Incubators recognized by a government entity and/or receive funding from another entity whose mission includes development of businesses in New York City or Westchester County. The program shall also apply to start up and emerging businesses that graduate from Business Incubator programs and continue to exist as a new business.
Additional Rate Information:
- As of April 1, 2008, customers in the Borough of Manhattan, located within 250’ of a steam main, that have electric and/or electric hybrid electric chillers, will have their eligibility for this program reduced, based on the efficiency of this equipment, for the months of June through September.
- Savings realized from the BIR will be applied to the delivery component of the bill, providing customers the opportunity to explore supply options from energy service companies (ESCOs).
- The electric rate delivery reduction has a range of 32 to 40 %.
- The term during which a Con Edison customer may receive an electric BIR ranges, from 5 to 10 years, followed by a phase-out period of 5 years for customers receiving the 15-year term.
How to Apply
Completed applications for the BIR program must be signed and mailed to the Economic Development manager in the appropriate geographic area. Appropriate documentation must be submitted proving eligibility criteria before a customer will be placed on the rate. To apply, print out and submit the application (PDF format).
For Additional Information
You may contact any of our Con Edison Economic Development Managers.