Voltus Pays Ontario Class A Customers to Reduce Electrical Load and Delivers Guaranteed Global Adjustment Cost Avoidance
TORONTO, January 24, 2019 (Newswire.com) - Voltus, Inc., the leading demand response provider to commercial and industrial customers, announced today that it has expanded its product offerings in Ontario, while also being awarded 67 MWs of capacity resources in the latest demand response auction held by the province’s Independent Electricity System Operator (IESO).
Voltus guarantees Class A customers that its demand response platform will accurately predict 100% of the global adjustment peak hours, ensuring that the customer avoids what amounts to be the highest electricity demand charges in the world, with a trailing 12-month cost of over $500,000 (CAD) per MW.
“You have to have a tremendous amount of market knowledge, technology innovation, and proven experience to bring this type of offer to the market. One of our early Class A customers said, ‘If you put a guarantee behind your offering I’ll sign up in every market you offer it.’ We didn’t think twice to take market risk on a technology platform that we’ve invested millions in to create and has delivered exceptional results in Ontario, as well as in major markets like AESO, ISO-NE, NYISO, PJM, MISO, and ERCOT,” said Gregg Dixon, CEO of Voltus.
Additionally, Voltus entered the IESO demand response market as the fastest growing demand response provider, securing 67 MWs of demand response payments for customers who may not be able to curtail loads as often as needed to avoid global adjustment expenses but want to monetize their operational flexibility nonetheless.
“The Voltus team first opened Ontario to demand response when it was the Ontario Power Authority, bringing the very first MWs to market in 2007 in the DR3 program,” said Kelly Lorincz, Vice President of Voltus. “We’re excited to reinvigorate innovation in demand response in Ontario and bring a product offering to market that focuses entirely on the bottom line for customers, however, they want to get involved.”
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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.
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Source: Voltus, Inc.