Business Services Industry
EnergyConnect, Inc. Selected to Provide Demand Response Offerings to Southern California Edison's Large Base of Customers
Business Wire, March 20, 2008
Commercial and industrial electricity consumers in southern California are invited to get paid for committing to reduce electricity use
PORTLAND, Ore. -- EnergyConnect, a wholly owned subsidiary of Microfield Group, Inc. (MICG.OB), and industry leader in innovative demand response technologies, today announced that it received approval from the California Public Utilities Commission for a four-year contract to provide 20 Megawatts of demand response in the Southern California Edison service territory.
Demand response is designed to help ease the pressure on the nation's largest electricity grids during times of peak demand. EnergyConnect's innovative demand response products and services are part of the overall solution to address rising electricity demand and enable a smarter, more sustainable power grid, while creating additional profit for participating companies.
"We are very pleased that the California Public Utilities Commission has approved our four-year contract to provide demand response products and services to Southern California Edison's large commercial and industrial customer base," said Rodney M. Boucher, Chief Executive Officer of Microfield Group. "This most recent contract extends our reach into southern California and represents the continued success and momentum behind EnergyConnect's comprehensive and sustainable high-growth business model targeting a multi-billion dollar segment of the robust demand response industry."
EnergyConnect's contract was one of only four demand response contracts successfully negotiated with Southern California Edison, and subsequently approved by the California Public Utilities Commission. A total of seventeen contracts were initially submitted by a variety of demand response providers.
EnergyConnect's proprietary web-based demand response platform provides real-time guidance and automated execution that allows participants to shape and curtail energy usage patterns in response to wholesale electric market prices or grid reliability issues. EnergyConnect's industry leading expertise and real-time automated technology make it profitable for major industrial and commercial facilities to proactively control and manage their electricity consumption and generate new revenue by automatically shedding load and shifting electricity usage when the electric grid is stressed.
About EnergyConnect
EnergyConnect, Inc., a wholly owned subsidiary of Microfield Group, Inc., provides industry leading Demand Response technologies and services that enable a smarter, more sustainable power grid while creating additional income for participating companies. EnergyConnect transforms energy consumers into active participants in delivering the cleanest, most efficient and lowest cost supply of electric energy available. The EnergyConnect web-based automated platform enables consumers of energy to participate in unprecedented profit opportunities in the wholesale market for electricity. For more information about this next generation technology, visit: 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.
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