Entergy Arkansas Partners with Comverge to Launch New Mass-Market Demand Response Program
Multi-Million Dollar Virtual Peaking Capacity Agreement to Help Entergy Arkansas Meet Energy Efficiency and Demand Management Goals
Norcross, GA, May 24, 2012 - Comverge, Inc. (Nasdaq: COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial + Industrial (C+I) customers, today announced that Entergy Arkansas has selected Comverge to implement a fully outsourced, pay-for-performance, Virtual Peaking Capacity (VPC) program. Under the terms of the multi-million dollar agreement, Comverge will provide 15 megawatts (MWs) of capacity to Entergy Arkansas through its comprehensive suite of intelligent energy management software, hardware and services. Entergy Arkansas is the 25th utility to deploy Comverge’s IntelliSOURCE software platform, which enables automation and end-to-end support for mass-market demand response programs.
“We are working with Comverge to deliver an innovative demand response program to our community as part of our comprehensive Energy Efficiency Plan,” said Richard Smith, Manager, Energy Efficiency Resource Planning, Entergy Arkansas, Inc. “This is one of several programs that will help us achieve peak electric demand reductions and improve affordability of energy to all customers.”
Comverge VPC programs reduce risk and capital investment for utilities by operating on a pay-for-performance basis. The VPC programs also demonstrate the reliability and predictability of Comverge demand response solutions as Comverge only receives payment for the verifiable megawatts of capacity actually delivered. At Entergy Arkansas, Comverge’s IntelliSOURCE platform will support the full lifecycle of the new demand response program, including customer acquisition, program management and event control, measurement, analysis and optimization. The comprehensive Comverge program will help Entergy Arkansas meet its energy efficiency and demand management targets mandated by the Arkansas Public Service Commission.
“Entergy Arkansas needed a partner that could help it efficiently achieve corporate-wide demand management and energy efficiency goals,” said R. Blake Young, Comverge President and Chief Executive Officer. “With our VPC program, we have helped Entergy Arkansas take the risk and complexity out of executing a mass-market demand response program. The combination of our proven and integrated software, hardware and services will enable Entergy Arkansas to meet its specific load reduction requirements while also helping it enhance the experience it can offer to customers.”
Entergy Arkansas provides electricity to more than 692,000 customers in 63 counties. It is a subsidiary of Entergy Corporation. Entergy Corporation is an integrated energy company engaged primarily in electric power production and retail distribution operations. Entergy owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, and it is the second-largest nuclear generator in the United States.
With more than 500 utility and 2,100 commercial customers, as well as five million residential deployments, Comverge brings unparalleled industry knowledge and experience to offer the most reliable, easy-to-use, and cost-effective intelligent energy management programs. We deliver the insight and control that enables energy providers and consumers to optimize their power usage through the industry's only proven, comprehensive set of technology, services and information management solutions. For more information, visit www.comverge.com.
Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release are not, and should not be construed as historical facts, do not constitute guarantees of future performance and are based on numerous assumptions that, while believed to be reasonable, may not prove to be accurate. These forward looking statements include successful implementation of the program, anticipated results, expectations of future performance under the program and certain assumptions upon which such forward-looking statements are based. The forward-looking statements in this release involve a number of factors that could cause actual results to differ materially, including risks associated with Comverge's business involving our products, the development and distribution of our products and related services, regulatory changes, economic and competitive factors, our key strategic relationships, and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the information or announcements described herein.
For Additional Information
Vice President, Marketing and Investor Relations