We compare formats for optical intensity modulation limited by thermal noise with the assumption of having ideal devices. At the same bitrate and bandwidth, a hitherto unknown format turns out to be more power efficient than known formats. This new modulation, which is a hybrid between on-off keying and phase-shift keying, belongs to the subcarrier modulation family. At asymptotically high signal-to-noise ratios, this hybrid scheme has a 1.2 dB average electrical power gain and 0.6 dB average optical power gain compared to OOK, while it has a 3.0 dB average electrical power gain and 2.1 dB average optical power gain compared to subcarrier QPSK.