National Grid plans to include an area from Saratoga Springs to Clifton Park in a study for new technology aimed at cutting energy costs.
The power company will ask for federal stimulus money to create two "smart grid" projects which will allow customers to access the cost of using electricity at given points through the day and night.
The projects will be run in Saratoga County and the Syracuse area and could be under construction in the fall.
Company Vice President of Energy Management Martin Cook said the pilot program is expected to cost about $240 million, more than half of that in equipment and new infrastructure.
He said the federal government program could pay half the costs and the state will determine a formula for the other half, some of which may come from customers.
The New York State Public Service Commission requested applications for projects that would be suitable for funding through the federal economic stimulus program.
Cook said everyone in the target area will be included unless they opt out.
The approximately 42,300 customers are in an area from the Mohawk River to Saratoga Springs and Wilton and include residential, commercial and industrial customers.