Con Edison customers who operate large buildings are taking advantage of pumped-up payments the company is offering to conserve electricity when temperatures soar.
Customers can register through June 2 and begin collecting payments in August. For every megawatt of reduction that a customer enrolls, Con Edison will pay up to $500,000 over three years. This incentive would be on top of the money the customer would save from lowering their electrical use.
“Our large customers are realizing it’s good business to take advantage of our Demand Response programs, especially with the increased payments they can receive,” Sim Zirkiyev, manager of Commercial Demand Response Programs at Con Edison. “They save on electricity costs and increase their top-line revenue.”
This year, more than 700 Con Edison customers have signed up for the Distribution Load Relief Program’s reservation option, saving more than 180 megawatts of power when Con Edison asks them to conserve. One megawatt can power up to 1,000 homes. Last year – before the incentives were increased – about 600 customers had signed up, producing 150 megawatts of savings.
Customers are also drawn to the incentives in the Commercial System Relief Program’s reservation option. This year, 377 customers have enrolled, producing savings of 110 megawatts, compared to 240 customers and 56 megawatts last year.
Customers enrolled in these programs help Con Edison keep the power flowing at peak electrical usage times, and are a key part of the utility’s strategy to continue providing industry-leading reliable electrical service.
Con Edison is targeting the incentives toward owners and operators of commercial, industrial and multi-family buildings.