Con Edison Time-of-Use Rates: How to Save Money on Your NYC Electric Bill

Time-of-use (TOU) rates offer New York City residents an opportunity to lower their electricity bills by shifting usage to off-peak hours. But is it right for you? This guide explains how Con Edison's TOU rates work and helps you decide if switching makes sense.

What Are Time-of-Use Rates?

Unlike standard rates that charge the same price per kilowatt-hour (kWh) regardless of when you use electricity, time-of-use rates vary based on the time of day and season. The concept is simple: electricity costs more to generate and deliver during peak demand periods, so utilities charge more during those times.

Con Edison's Time-of-Use Structure

Con Edison's residential time-of-use rate (SC1-VMRP - Voluntary Market Rate Plan) divides the day into peak and off-peak periods:

Summer (June 1 - September 30)

Peak Hours: Weekdays 8:00 AM to midnight

Higher rates during these 16 hours
Reflects increased demand from air conditioning

Off-Peak Hours: Weekdays midnight to 8:00 AM, plus all weekend hours

Lower rates during these times
Includes all day Saturday and Sunday

Winter (October 1 - May 31)

Peak Hours: Weekdays 8:00 AM to midnight

Rates are lower than summer peak rates
Still higher than off-peak rates

Off-Peak Hours: Same as summer

Lowest rates of the year
Great time for high-energy activities

Potential Savings

The savings from TOU rates depend entirely on your ability to shift usage to off-peak hours. Here's a realistic breakdown:

Best Candidates for TOU Rates

You're likely to save money if you:

Work Non-Traditional Hours: If you work nights or have flexible hours, you naturally use more electricity during off-peak times.

Can Shift Major Appliances: Running your dishwasher, washing machine, and dryer during off-peak hours (before 8 AM or on weekends) can significantly reduce costs.

Have an Electric Vehicle: Charging your EV overnight during off-peak hours maximizes savings.

Use Programmable Thermostats: Pre-cooling your home before peak hours and raising the temperature slightly during peak times reduces peak usage.

Typical Savings Scenarios

High Shifters (can move 60%+ of usage to off-peak): 15-25% savings

Moderate Shifters (can move 40-60% to off-peak): 5-15% savings

Low Shifters (can move less than 40%): May break even or pay more

How to Evaluate Your Potential Savings

Step 1: Analyze Your Current Usage

Review your past 12 months of Con Edison bills to understand:

Your average monthly kWh consumption
Seasonal variations (summer vs. winter)
Your current average cost per kWh

Step 2: Estimate Your Usage Patterns

Think honestly about when you use electricity:

What time do you typically run the dishwasher?
When do you do laundry?
How much can you realistically shift?

Step 3: Calculate Potential Savings

Con Edison provides a TOU rate calculator on their website. You can also request a shadow bill that shows what you would have paid under TOU rates based on your actual usage.

Strategies to Maximize TOU Savings

1. Shift Laundry to Off-Peak Hours

Washing machines and especially dryers are energy-intensive. Running them before 8 AM or on weekends can save significantly.

Pro Tip: Use delay-start features to automatically run appliances during off-peak hours.

2. Pre-Cool Your Home

During summer, set your AC to cool your home to a comfortable temperature before 8 AM, then raise the thermostat a few degrees during peak hours. Your home will stay relatively cool while using less peak electricity.

3. Use Smart Power Strips

Many devices draw power even when "off." Smart power strips can automatically cut power to devices during peak hours.

4. Charge Devices Overnight

Phones, laptops, tablets, and especially electric vehicles should be charged during off-peak hours. Most devices can be set to delay charging until a specific time.

5. Cook Strategically

Electric ovens and stoves use significant energy. Consider:

Meal prepping on weekends
Using slow cookers that run during off-peak hours
Grilling outdoors during summer peak hours

Common Concerns About TOU Rates

"I Can't Change My Schedule"

You don't need to change your entire lifestyle. Even shifting a few high-energy activities to off-peak hours can result in savings. Focus on:

Dishwasher (run overnight)
Laundry (weekend mornings)
EV charging (overnight)

"What If I Forget?"

Technology helps:

Smart thermostats adjust automatically
Appliance timers run loads at set times
Smart plugs can schedule device usage

"Summer Peak Hours Are Too Long"

The 8 AM to midnight peak period is indeed lengthy. However, the biggest savings come from:

Weekend usage (all off-peak)
Early morning usage (before 8 AM)
Overnight activities (EV charging, etc.)

How to Switch to TOU Rates

Switching to Con Edison's time-of-use rate is straightforward:

Log into your Con Edison account at coned.com
Navigate to "My Account" and select "Rate Options"
Choose the Voluntary Market Rate Plan (SC1-VMRP)
Confirm your selection

The switch typically takes effect with your next billing cycle. You can switch back to standard rates at any time, though there may be a waiting period before switching again.

Monitoring Your Usage

After switching to TOU rates, monitor your usage carefully:

Con Edison's Online Tools

Your online account shows:

Hourly usage data (if you have a smart meter)
Peak vs. off-peak consumption breakdown
Month-over-month comparisons

Third-Party Apps

Several apps can help track and optimize your energy usage:

Sense (requires hardware installation)
Emporia (requires hardware installation)
Con Edison's own mobile app

When TOU Rates Don't Make Sense

TOU rates aren't for everyone. You might want to stay on standard rates if:

You Work From Home During Peak Hours: Running computers, lights, and climate control during peak hours adds up quickly.

You Have Medical Equipment: Some medical devices must run continuously and can't be shifted.

You Have Young Children: Families with babies or young children often can't easily shift usage patterns.

You're Rarely Home on Weekends: If you travel frequently on weekends, you miss the best off-peak opportunities.

Conclusion

Con Edison's time-of-use rates offer real savings potential for customers who can shift their electricity usage to off-peak hours. The key is honest self-assessment: can you realistically change when you use electricity?

Start by requesting a shadow bill from Con Edison to see what you would have paid under TOU rates. If the numbers look favorable, make the switch and use smart technology to help shift your usage automatically.

Remember, you can always switch back to standard rates if TOU doesn't work for your lifestyle. The goal is finding the rate structure that minimizes your costs while maintaining your quality of life.