There are currently two rate choices available for residential customers* – our conventional
(EL1) rate and our voluntary time-of-use (TOU) rate. The rate that is best for you depends
on a number of variables, including the types of appliances and other electrical devices that you have, the hours
during the day that you are typically home and whether or not you can shift the majority of your energy usage
to the lower cost (or “off
peak”) periods.
Customers on our conventional rate pay the same market-based price (per kWh) for electricity
regardless of whether they use it during the morning, afternoon, evening or overnight.
Customers who choose our time-of-use rate, however, pay a reduced price during off-peak periods (non-shaded areas
in the chart below). During peak periods, TOU customers pay a price that is higher than the price paid by customers
on the conventional rate. This acts as an incentive to reduce electric consumption during the times when system-wide
usage and the cost of generating electricity are at their highest.
To determine if TOU rates are right for you, take our time-of-use
quiz.
*Con Edison does not currently offer a special rate for EV owners.
PowerYourWay
Electric vehicle customers may also want to consider purchasing their energy supply from an energy services
company (ESCO). These companies can offer different rates and pricing structures than Con Edison, some
of which may be beneficial to customers who charge their EVs at home.
For more information about choosing an ESCO, visit www.poweryourway.com.
What’s next?
At Con Edison, we are paying close attention to the potential impact of EV adoption on the electric grid.
Our goal is to ensure that the transition to electric vehicles is as smooth as possible. Want to know what
we’ve learned so far?
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