In New York State, the default electricity pricing for large customers is Mandatory Hourly Pricing (MHP), which is indexed to day-ahead wholesale market. Day-ahead wholesale market prices can fluctuate quite significantly during summer months and can adversely affect the customer's energy bills if not managed appropriately. OpenADR is an XML (eXtensible Markup Language) based information exchange model that communicates price and reliability information. This study shows how OpenADR version 1.0 can support MHP and facilitate price responsive demand for large commercial customers in New York City. First, the usefulness of dynamic pricing rates and demand response programs on price responsive demand were evaluated. Second, the demand response program prioritization table was developed to enable customers to participate in multiple DR programs concurrently. Third, Demand Cost Function was developed to understand how dynamic prices and DR incentives affects a customer's electricity cost as a function of time. Lastly, OpenADR data models were developed to map hourly prices and DR signals. The results from this study will be used to design load optimization algorithm that reduces peak demand and minimizes electricity cost for customers.