Exelon (EXC) Subsidiary PECO Selects Comverge (COMV) Demand Response Solution

===> Click Here For Your FREE Comverge Analysis

Exelon’s (EXC) PECO subsidiary in Pennsylvania has selected Comverge’s (COMV) Apollo Demand Response Management System to meet energy efficiency targets required by Pennsylvania Act 129.  For the next 3 years Comverge will provide full turnkey services including call center services and includes the installation of nearly 150K energy management devices.  This will be largest demand response deployment in Pennsylvania.  PECO was one of the six recipients of the largest DOE grant of $200 million for the advancement of the smart grid.  You might remember I posted about Centerpoint Energy finalizing its $200 million grant a few days ago.  This PECO deal should be the first of many wins for the smart grid/demand response companies such as COMV, ELON, ENOC, ITRI, etc.

PECO director Frank Jiruska commented on the deal: “The PECO Smart Ideas suite of programs are part PECO’s ongoing efforts to help customers save energy and money.  To meet that commitment to customers, we needed a partner that could cost effectively deliver a comprehensive and proven platform to support both our current and future energy efficiency initiatives. After careful evaluation, Comverge was a clear choice given the scale and scope of our programs. Their experience and presence in the region, combined with the breadth of their turnkey services, will help us empower our customers with the information they need to reduce energy consumption and ultimately save money.”

This news was released yesterday and contributed to a small pop in COMV shares, but like the overall market gave back the gains by the end of the day. 

Leave a Reply

Your email address will not be published. Required fields are marked *