Comverge Enterprises Group Announces Milestone of 150 MW of Installed Capacity
08 Febrero 2006 - 10:15AM
PR Newswire (US)
TAMPA, Fla., Feb. 8 /PRNewswire/ -- DistribuTECH 2006 -- Comverge,
Inc. announced today that it has installed a cumulative 150 MW of
emergency peaking capacity under its Virtual Peaking Capacity(TM)
(VPC) banner, marking a significant milestone for the company.
Comverge expects to add at least 100MW to its current capacity in
2006. Comverge currently has contracts in place in California, Utah
and New England to provide over 225 MW of peak load capacity in
these fully-outsourced programs. This innovative
pay-for-performance business model has drawn national interest from
utilities as an approach to defer generation and transmission
expenditures and enhance grid reliability. This milestone reflects
the growing market vision of Demand Response as a meaningful asset
in any electric utility's portfolio. This resource has the proven
capability to respond in under 60 seconds and provides verifiable
Demand Response that can be used for a variety of system operation
situations -- from emergencies to daily operations. The resources
under the VPC(TM) offering were called more than a dozen times
during the summer of 2005 with flawless execution and performance.
When the Comverge VPC(TM) system was called for system emergency in
southwestern Connecticut on July 27th, the automated response
systems of Comverge performed at 125% of expectation. In its
efforts to reduce Federally Mandated Congestion Charges, the
Connecticut Department of Public Utilities noted the importance of
the Comverge program. In Docket Number 05-07-14PH01, the Department
stated "... the Comverge program demonstrates that the aggregation
of small loads (i.e., residential) is a significant load management
strategy, one that can provide a significant load response
resource. Therefore, the Department believes that direct load
control strategies should be pursued by the distribution companies
among all customer classes. A residential offer will also serve to
educate this customer class regarding peak system demands." Under
the current agreements, Comverge is responsible for implementing
the entire program, including market research, participant
recruitment, installation, maintenance, and call center operations,
thereby allowing the utility to reap the benefits of a peak load
management program without taking on any of these associated risks.
"Our VPC(TM) business model has proven to be a highly economical
and effective solution for utilities across the country," commented
Comverge Enterprise Group's COO and President Frank Magnotti. "We
will continue adding Verifiable Peaking Capacity in Utah, and New
England, as well as San Diego, where recruitment and installation
efforts are well underway. We are proud to congratulate our growing
team here at Comverge on this accomplishment. Their continuing
commitment to Comverge's three core competencies, Operational
Excellence, Innovation, and Customer Intimacy, have made this
achievement possible." Robert Chiste, Comverge's CEO added, "Just
as written in the Energy Bill, Demand Response is the national
policy of the United States. Comverge's fully outsourced programs
are offering utilities an innovative business model for reducing
peak capacity through Demand Response, thereby allowing them to
defer capital intensive transmission and generation upgrades. The
market for these programs is constantly growing and Comverge seeks
to be at the forefront of this growth." Mr. Chiste also noted that
Comverge has moved into 2006 with greater momentum than ever
enjoyed in its history, coming off a record 2005. About Comverge,
Inc. Comverge, Inc., The Power in Power Technology(TM), is a
leading energy intelligence company whose investors include Nth
Power, EnerTech Capital, Data Systems & Software, Inc.
(OTC:DSSI) (BULLETIN BOARD: DSSI) , E.ON Venture Partners GmbH
(NYSE:EON), Ridgewood Capital, Easton Hunt Capital Partners, L.P.,
Norsk Hydro Technology Ventures (NYSE:NHY), Rockport Capital
Partners, and Shell Internet Ventures, an affiliate of the Royal
Dutch/Shell Group of Companies. Comverge is represented across the
world with offices and research facilities in Atlanta, Georgia;
East Hanover, NJ; Newark, California; Pensacola, Florida; and Tel
Aviv, Israel. Providing software and system solutions to over 500
clients in the electric utility industry, Comverge implements both
integrated and outsourced solution based models for remote meter
reading, distributed generation monitoring, and time-of-use billing
and demand response, and direct or voluntary load control
initiatives. For more information visit http://www.comverge.com/.
Media Contact At Comverge, Bud Vos, Vice President of Marketing,
973.884.5970, DATASOURCE: Comverge, Inc. CONTACT: Bud Vos, Vice
President of Marketing of Comverge, +1-973-884-5970, or Web site:
http://www.comverge.com/
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