A method and system for managing electrical loads on a standby generator. The method includes utilizing a transfer switch control to selectively shed loads each associated with one of a series of priority circuits. Priority values are initially assigned to each of the electric loads based upon the initial hard-wired connection of the electric loads to a main breaker panel during set up. The control unit of a transfer switch allows the user to reassign priority values to each of the electric loads based upon a user preference. The control unit includes one or more predefined priority assignment programs that can be selected to modify the priority values assigned to the electric loads.