EnergyConnect Applauds Federal Energy Regulatory Commission's Proposal to Fully Compensate Demand Response Resources
EnergyConnect Group Inc. (OTCBB: ECNG - News), a leading provider of smart grid demand response (DR) services and technologies, responds to yesterday�s Federal Energy Regulatory Commission (FERC) initiation of a Rulemaking proceeding addressing Demand Response Compensation for all organized energy markets.
The proposed rule recommends increasing the compensation for retail customers that respond to prices in the wholesale market and puts them on par with what generators are paid. Under FERC�s proposal, DR resources would be paid the full market price for reductions made in response to price signals.
Kevin Evans, EnergyConnect�s president and CEO, said, �Yesterday�s FERC proposal is a win for all energy consumers. We commend its leadership to empower customers to be part of the solution to improve the competitiveness and reliability of the smart grid. When customers are compensated for the service they provide to grid operators, everyone benefits.�
FERC�s commitment to properly compensate demand response resources coupled with EnergyConnect�s unique FlexConnect technology solution, which enables participation in price based DR programs, positions EnergyConnect for future success.
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. The EnergyConnect 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: http://www.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.
For More Information:
Company Contact:
Andrew Warner, CFO
EnergyConnect, Inc.
408.898.4592
AWarner@energyconnectinc.com
Investor Relations:
Timothy Dien
Lippert/Heilshorn & Associates, Inc.
415.433.3777
tdien@lhai.com