Commonwealth of Virginia Leads Mid-Atlantic in Statewide Demand Response Commitment with EnergyConnect
Innovative GridConnect platform
enables statewide entities to earn payments for reducing energy
consumption at times of peak demand
December 16, 2010 - San Jose, CA - EnergyConnect, Inc. (OTCBB: ECNG -
News), a leading provider of smart grid demand response services and
technologies, extended its demand response contract with the
Commonwealth of Virginia, which is the largest comprehensive state
program in the PJM market. Under this contract, EnergyConnect enables
Virginia state agencies, educational facilities and other public bodies
to earn payments for reducing energy use during times of peak grid
demand.
Participation in the Commonwealth’s program ensures advantageous
pricing and access to EnergyConnect’s multiple demand response
solutions. More than 75 state organizations are currently enrolled,
including hospitals, municipal facilities, prisons, and educational
campuses, making it the largest comprehensive state program in the PJM
market. The program ultimately benefits all citizens of the
Commonwealth by reducing the need for electrical utilities to build
additional generating plants, transmission, and distribution lines.
“Over the past three years, our customers’ active participation has
helped improve the reliability of Virginia’s electricity grid, further
demonstrating the positive impact that integrated demand response
programs like ours can provide,” said Kevin R. Evans, president and CEO
of EnergyConnect. “We look forward to continuing our work with the
Commonwealth and providing other entities with the opportunity to
effectively manage their electricity consumption and make environmental
stewardship profitable.”
EnergyConnect customers across the PJM service area achieved
significant financial and energy benefits from demand response
participation this past summer. For example, when an event was called
on July 7, 2010, one academic institution in Virginia exceeded its
commitment to protect the grid and increased its demand response
earnings by reducing electricity consumption by 2000kW, which is
equivalent to the amount of electricity needed to power more than 1000
homes during peak hours.
There
are many approaches facilities can take to reduce energy consumption
without adversely affecting operations or occupant comfort levels. From
operating standby generators to adjusting indoor temperatures and
lighting levels, EnergyConnect works directly with each participating
facility to assess its energy use portfolio and develop non-disruptive
ways to reduce energy usage during times of peak demand. Active
participation in demand response programs earns users valuable revenue
that can be used to fund other necessary resources, such as facility
upgrades and energy efficiency projects.
With the renewal, eligible entities
now have until March 15, 2011 to sign up for the 2011 season.
Organizations interested in signing up should contact George Barnes at
gbarnes@energyconnectinc.com.
Forward-Looking Statements
This press release includes
statements that may constitute “forward-looking” statements. These
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995.
Forward-looking statements
inherently involve risks and uncertainties that could cause or
contribute to such differences that include, but are not limited to,
competitive factors, the success of new products in the marketplace,
dependence upon third party vendors, and the ability to obtain
financing. By making these forward-looking statements, the Company
undertakes no obligation to update these statements for revisions or
changes after the date of this release.
About EnergyConnect
EnergyConnect delivers industry
leading Demand Response technologies and services to commercial,
institutional and industrial consumers, enabling them to manage their
use of electricity in response to market prices or regional power
shortages. EnergyConnect’s GridConnect technology platform provides a
scalable, cost-effective, clean technology to enhance the grid’s
efficiency and reliability. For more information about this leading
edge technology or about investor relations, visit
www.energyconnectinc.com
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