EnergyConnect Launches 2009 Enrollment Campaign for Emergency Response Program for the PJM Market
Lake Oswego, OR–November 13, 2008: EnergyConnect, Inc., (OTCBB: ECNG - News) an industry leader in innovative demand response technologies, today announced that it has begun enrolling electricity consumers located in the mid-Atlantic and Midwest-based PJM market in its 2009 EventConnect ILR Program. EventConnect ILR integrates into PJM’s Interruptible Load Response program (ILR) which is designed to help ease the pressure on the nation’s largest electricity grid during times of peak demand.
Last year, EnergyConnect enrolled over 200 facilities in the mid-Atlantic and Midwest-based PJM market in its program that pays large energy users to be on standby to cut back power in the event of a grid emergency. Enrollment is expected to grow substantially in 2009 as a steady rise in energy costs is making it essential for electricity consumers to adopt a variety of proven measures to regain control of their electricity budgets.
Two recent announcements have also placed renewed focus on demand response and are anticipated to drive increased interest during this year’s enrollment campaign:
- New regulations introduced on October 16th by FERC (Federal Energy Regulatory Commission) include several rule changes that direct regional power grid operators to adopt and implement several measures to encourage wider adoption of demand response.
- A recent NERC (North American Electric Reliability Corporation) report emphasized the role of demand response in helping delay the need for new generation and enhancing the entry of renewable energy sources like wind or solar. The report set the objective for climate change initiatives to support the development and reliable integration of demand-side resources.
Both announcements underscore the unique role of EnergyConnect in not only responding to grid emergencies but in also helping to balance the electric grid by working with consumers year round to curtail or shift usage during times of peak demand.
“Our leadership in the PJM region, in coordination with our strong performance in last year’s program and a growing awareness of the value of demand response, has positioned EnergyConnect for further success in the coming year,” said Gene Ameduri, EnergyConnect’s President. “In addition, we believe that the recent FERC rules pertaining to demand response will make it even easier for customers to participate in our wide range of demand response offerings, providing further testament to EnergyConnect’s high-growth business model targeting the multi-billion dollar demand response industry.”
In addition to event based demand response programs, EnergyConnect offers flexible programs that pay customers to voluntarily reduce electrical consumption in times of peak demand indicated by high wholesale market pricing. The company’s FlexConnect products provide information that allows consumers to make informed decisions about when to engage in demand response through an easy to use on-line interface.
The EventConnect ILR Demand Response Program runs from June 1 through September 30, 2009. The annual enrollment period for 2009 is now open. To find out more about how companies will be getting paid for committing to reduce their energy usage next summer, visit: www.energyconnectinc.com/ilr or call: 866-488-7642.
About EnergyConnect
EnergyConnect provides industry leading Demand Response technologies and services that enable a smarter, more sustainable power grid while creating additional income for participating companies. The EnergyConnect web-based automated platform enables consumers of energy to participate in unprecedented incentive opportunities by cutting back power when the grid needs it the most. Demand response is the cleanest, most efficient and lowest cost solution for meeting the nation’s growing power needs. For more information about this next generation technology or about investor relations, visit: www.energyconnectinc.com.
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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.
For further information, please contact:
Media Relations:
Kate Casolaro, kcasolaro@rasky.com, 617.443.9933 x338
Investor Relations:
Randy Reed, Chief Financial Officer, EnergyConnect Group, Inc., 503.419.3580
or
Glen Akselrod, Bristol Capital, glen@bristolir.com, 905.326.1888
Posted on Thursday, November 13th, 2008 - Press Releases