Select Pricing Plan
In the past, the only way to reduce your energy costs was to cut back on your overall energy use—something that we know can be difficult. Now, with the Select Pricing Plan you’ll save if:
- Your energy use is consistent over the course of the day, avoiding large spikes that come from running major appliances and devices all at once
- You reduce your energy use when possible during peak hours (Monday through Friday, noon to 8 p.m.)
Use Efficient Heat Pumps for Heating and Cooling
Heat pumps are up to three times more efficient than other heating and cooling systems, and when left at a single temperature setting, they use electricity consistently throughout the day. So, if you have a heat pump installed at your home, the Select Pricing Plan may be a good fit.
The first 500 air-source heat pump and first 500 geothermal customers to sign up will receive a one-year price guarantee. At the end of 12 months, we’ll compare your bills on the Plan with what you would have paid on your prior rate. If your bills were higher on the Plan, we’ll apply a credit to your account in the amount of the difference, so you won’t pay more than what you would have paid on your old rate.
Interested in learning more about heat pumps? We have incentives to help you cover the cost of installation. Learn more.
Ways to Save
Stagger Your Energy Use
Spikes in energy use put a strain on the energy grid and can lead to expensive infrastructure upgrades that drive delivery costs up for everyone.
On the Select Pricing Plan, you’ll be rewarded for spreading your energy use out evenly over the course of the day. To do this, use large appliances and electronic devices at different times instead of all at once.
Shift Energy Use When Possible
Maximize your savings by shifting energy use to off-peak hours when electricity prices are lower. For instance, wait until 8 p.m. to run the dishwasher, or do laundry on Sunday rather than Monday.
Peak Hours: Noon to 8 p.m., Monday through Friday
Off-Peak Hours: All other hours, including all day on weekends
What will my bill look like?
Con Edison bills have two parts: supply charges and delivery charges.*
You will continue to be billed for supply in cents per kWh, just as you were on your prior rate. But you will be charged a higher price during peak hours and a lower price during off-peak hours.
If you purchase your supply from an Energy Services Company (ESCO), you will continue to be billed at the price that you and your ESCO agreed upon. Peak and off-peak pricing will not apply.
Under the Select Pricing Plan, you’ll be billed for delivery in dollars per kilowatt (kW) rather than in cents per kilowatt-hour (kWh).
SUMMER PEAK (JUN 1 - SEP 30)
NON-SUMMER PEAK (OCT 1 - MAY 31)
$21.75 per kW
$16.73 per kW
$6.41 per kW
A basic-service charge of $28.00, plus applicable taxes and surcharges, also applies. All pricing information for the Select Pricing Plan can be found in the Con Edison Electric Tariff under Service Classification No. 1, Rate IV.
Can I participate?
Yes, as long as you have a smart meter installed at your home.
Already Enrolled? Track Your Progress in My Account
You can track your progress by logging in to My Account and reviewing our bill-comparison tool on the Billing History & Assistance page. The tool provides a month-to-month and annual comparison of your bills on the plan versus what you would have paid on your prior rate.
The annual comparison is helpful because, while you may not see savings every month that you’re enrolled in the Select Pricing Plan, the rate could still be a good fit overall. If you give the new rate a try, you can always return to your prior rate if you aren’t satisfied.