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Comverge’s (COMV) Southern California Edison (VPC) Contract Approved
Comverge just announced that its 4-year, 40 megawatt Virtual Peaking Capacity (VPC) contract with Southern California Edison has been approved by regulators. The approvalmeans that Comverge can begin work on a demand response system that will increase the reliability of Southern California Edison’s grid during times of heavy use.
In a press release, executives from both Comverge and Southern California Edison commented on the news:
“The rollout of our program with SCE will provide a cost-effective and environmentally responsible solution to Southern California’s energy needs,” said Michael Picchi, interim president and CEO, Comverge. “Southern California Edison has long been a leader in alternative energy and Comverge looks forward to helping them meet their commitment to expanding their renewable energy portfolio for the benefit of their customers and the environment.”
“We anticipate that this contract will be a valuable part of our demand response portfolio and reflects our commitment to meeting our system needs in a clean, reliable, and cost-effective manner,” said Lawrence M. Oliva, Director of Tariff Programs & Services at Southern California Edison. “In addition, demand response enables our customers to participate more actively in energy markets and earn money for their willingness to curtail at times of peak demand, which helps improve overall satisfaction.”
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