Con Edison introduces a business incubator incentive rate

Con Edison advises us that as of April 1st, two new categories of businesses — certain business incubators and their graduates — are now eligible for the long-standing Business Incentive Rate that provides special reduced energy rates to attract and retain businesses and jobs in New York City and Westchester County.

According to the updated webpage for the Business Incentive Rate, eligible entities may qualify for a reduction of between 32 and 40 percent of the delivery component of a Con Ed bill, and are also free to explore the option of buying the power that Con Ed delivers from a separate Energy Service Company (ESCO).

The rate applies to an incubator if it is recognized by a government entity and/or receives funding from an entity whose mission includes developing businesses in New York City or Westchester County. The program is also available to start-up and emerging businesses that graduate from these business incubator programs and continue to exist as a new business.

For full information including an application form that must be submitted to a Con Ed economic-development manager, please see here.

 

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