Comverge Announces 62 MW Virtual Peaking Capacity Contract with Public Service Company of New Mexico
East Hanover, NJ - February 6, 2007:Comverge, Inc., a leading provider of clean energy solutions through demand response, announced today it has entered into a new Virtual Peaking Capacity (VPC) agreement with Public Service Company of New Mexico (PNM) to provide up to 62 megawatts of electric capacity. The agreement is subject to approval by the New Mexico Public Regulation Commission. Under the VPC program, which will be marketed to PNM residential and small commercial customers, Comverge will install, own and operate for the benefit of PNM a demand responsive load management system that will encourage energy efficiency as mandated by the New Mexico Efficient Use of Energy Act and help assure energy reliability during times of peak demand. This fully outsourced, pay-for-performance, program will allow PNM to call upon needed capacity that can be dispatched within five minutes throughout the designated service territory.
Robert M. Chiste, Chief Executive Officer of Comverge stated, “With this VPC agreement, the fifth of its kind, Comverge has over 310 megawatts of capacity under contract. We are indeed excited to have the opportunity to bring the same cost-effective and environmentally friendly demand response solution to PNM and its customers as is currently enjoyed by over 500 Comverge customers throughout North America.”
PNM Sr. Vice President Doug Hobbs stated, “We consider the Comverge VPC solution as an important step in PNM’s goal of becoming a national leader in renewable energy in furtherance of our policy of environmental sustainability. Demand response provided by Comverge not only will provide PNM with capacity when it is needed the most; it does so without the release of nitrogen oxide or sulfur and carbon dioxide emissions.”
About Comverge
Comverge is a leading provider of clean energy solutions that enhance grid reliability and enable utilities to increase available electric capacity during periods of peak energy demand on a more cost-effective basis than conventional alternatives. For more information, visit www.comverge.com.
Contact
At Comverge, Bud Vos, Vice President of Marketing, Products, & Strategy, 973.884.5970, bvos@comverge.com.
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