The article is devoted to the issue of improving the efficiency of the investment project for upgrading the area of quenching furnaces at an industrial enterprise through the mechanism of price-dependent electricity consumption. The article reveals the peculiarities of pricing for the purchase of electricity by industrial enterprises and substantiates the expediency of applying the organizational and economic tool for increasing energy efficiency – price-dependent electricity consumption. The economic example of the investment project implementation in the baseline scenario of the project and using price-dependent consumption is shown on a concrete practical example. Based on the price-dependent electricity consumption model, several combinations of equipment loading schedules for various shifts were calculated, on the basis of which tariffs for electricity purchase were determined, the value of which turned out to be significantly lower than the similar values in the base case. On the basis of the received price parameters for the purchase of electricity, the calculation of performance indicators and financial feasibility of the investment project was carried out. The results of the study allow to draw conclusions about the economic feasibility and practical feasibility of the developed tools of price-dependent electricity consumption, the use of which will reduce the cost of purchasing electricity for industrial enterprises and increase the efficiency of the investment projects being released.