EnergyConnect Inks Deal with West Penn Power, a FirstEnergy Utility, to Deliver Act 129 Peak Load Reduction
- Agreement allows customers to participate in PJM and
state curtailment programs -
Marking a major milestone for the company, EnergyConnect Group, Inc. (OTCBB: ECNG - News), a leading provider of smart grid demand response services and technologies, has been awarded a multi-year exclusive contract with West Penn Power, a FirstEnergy utility, to help meet the peak demand reduction requirements of Pennsylvania’s Act 129. Learn More
EnergyConnect’s services will contribute to meeting Pennsylvania’s goal of reducing peak demand for electricity by 4.5 percent by May 31, 2013. Using the company’s award-winning GridConnect™ integrated demand response platform, eligible customers now have the opportunity to increase their demand response participation beyond traditional grid-dispatched capacity programs.
“Act 129 creates additional financial incentives for reducing load when it makes the most sense for customers and the grid,” said Kevin R. Evans, President and CEO of EnergyConnect. “Deploying our GridConnect technology to inform and motivate participants, EnergyConnect will leverage its resources to provide West Penn Power with a cost effective, customer-centric solution to peak demand reduction. Transparent access to energy pricing information, translated into a value proposition that resonates with customers, is critical to facilitating demand response participation and reinforcing continued iengagement, so everyone benefits.”
PJM, the largest centrally dispatched grid in the world, is the foremost regional transmission organization in North America covering 13 states and the District of Columbia. EnergyConnect’s industry-leading price-based demand response software facilitates combined participation in West Penn Power and PJM’s economic programs, providing electricity users with actionable information and insight to motivate them to participate in demand response more frequently. The GridConnect unified web-based portal also will enable customers to easily view and track Act 129 earnings, PJM payments and electricity bill savings within the same dashboard.
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 http://www.energyconnectinc.com.
For More Information:
David Pinto
EnergyConnect, Inc.
408.426.5935
dpinto@energyconnectinc.com