Business Incentive Rate
The Business Incentive Rate offers special, reduced energy rates to attract and retain businesses and jobs in New York City and Westchester County.
How It Works
Your business may qualify for reduced electric rates if you:
- Reoccupy vacant commercial or industrial buildings
- Move into a newly constructed building
- Construct a publicly accessible electric vehicle quick charging station
- Construct biomedical research facilities
- Negotiate a comprehensive package of incentives from state or local authorities
- Are designated as a business incubator
- Graduated from a business incubator
To qualify, you must be receiving economic incentives from the city, county or state, such as a substantial real property tax incentive from New York City or Westchester County, or participating in the New York City Energy Cost Savings Program. Your business may also require an energy efficiency survey.
You must apply for the business incentive rate within 30 days after you apply for state and local 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 electric vehicle quick charging stations, you must have a minimum 100kW publicly accessible aggregate charging capacity.
For existing premises, you must be receiving a comprehensive package of economic incentives from state or local authorities.
Not-for-profit institutions must occupy newly constructed or converted space contained in new or renovated buildings where the space is solely or predominantly used for biomedical research and must receive a comprehensive package of incentives from state or local authorities.
Business incubators must be recognized by a government entity and/or receive funding from another entity with a mission that includes development of businesses in New York City or Westchester County.
Additional Rate Information
The money you save through the business incentive rate will be applied to the delivery portion of your bill.
The electric rate delivery reduction ranges between 34 percent and 39 percent.
You may receive the business incentive rate for up to five, 10, or 15 years. The business incentive rate for electric vehicle quick charging stations is available through April 2025.
How to Apply
Complete the application, sign it, and send it to our Economic Development Manager by email or mail it to Con Edison, Economic Development, 511 Theodore Fremd Ave., Rye, NY, 10580. Include appropriate documentation proving your eligibility.
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