Use of Demand Response Reduces Energy Costs, Creates Jobs in Illinois
SPRINGFIELD, Ill., September 14, 2017 (Newswire.com) - Voltus, Inc., a leading provider of cash-generating energy products, announced today that it has been selected as one of only two winning suppliers of the Illinois Power Agency's Midcontinent Independent System Operator Zone 4 capacity procurement. Voltus’s commercial, institutional, and industrial demand response network now totals nearly 600 MWs in the MISO portion of Illinois and has helped the average C&I customer’s energy costs decrease by nearly $50,000 annually. The targeted 826 MWs of capacity procured in this process was for planning years 2018/2019 and the award to Voltus is the first time a demand response provider has won a contract in the Illinois Power Agency procurement process, which began in 2007. Additional details on the RFP results are found at https://www.ipa-energyrfp.com/?wpfb_dl=1382.
"Our C&I-focused demand response network in Illinois has delivered tremendous savings to customers, significantly reducing capacity prices that amount to 30% of a customer's annual energy bill," said Gregg Dixon, CEO of Voltus. “What we find most interesting is that the recent IPA procurement secured capacity at 10% of the cost of the well-known subsidies to two uneconomic nuclear plants that formed the basis for Illinois SB2814. In other words, the state didn’t need those subsidies in order to provide safe, reliable, affordable, and clean energy to its citizens."
As a percentage of state electricity demand, and with the help of Voltus, Illinois now leads the nation in demand response MWs enabled to meet state-wide electricity supply needs while delivering the nation's best power reliability and lowest capacity rates. As this resource grows rapidly in Illinois rate payers enjoy a 250% return on the dollars invested in demand response versus a traditional mix of supply, as evidenced by an Advanced Energy Economy report found at http://info.aee.net/hubfs/PDF/aee-peak-demand-reduction-strategy.pdf?t=1446657847375.
"Illinois legislators got it half right," said Matthew Plante, Voltus President. "While the subsidies offered to the nuclear industry through SB2814 were expensive and unnecessary, Illinois deserves credit for fully incorporating demand response into its resource mix. With all the talk about job creation, it’s amazing that a change as simple as encouraging more demand response can result in real job creation and a spark for Illinois economic growth. Voltus is excited about stimulating these kinds of direct benefits from our innovations in demand response and energy management."
To learn more about Voltus, visit www.voltus.co or email email@example.com.
About Voltus, Inc.
Voltus represents the "potential of us" to better manage energy through simple, cost-free energy management products. Our commercial and industrial customers generate cash by allowing us to be their energy expert while we deliver innovative demand response, energy purchasing, and energy efficiency programs to them. It's this simple: a customer signs up with Voltus and every quarter we deliver dollars. Voltus makes money when our customers make money by sharing the cash generated from working together. What's more, there are significant community benefits that accompany working with Voltus - a cleaner, more reliable energy future and dollars invested back into your business and jobs instead of being wasted on a larger energy bill.
Voltus Media Relations: Gregg Dixon - 617-283-9387 - firstname.lastname@example.org
Source: Voltus, Inc.
Tags: Ameren, Demand Response, Distributed Energy Resources, Dynegy, Energy Efficiency, Energy Procurement, Energy Storage, EnerNOC, Illinois Power Agency, Midcontinent Independent System Operator, MISO, SB 2814