GDF Suez Teams Up With Comverge (COMV) To Offer Customers Demand Response

It was announced this morning that the retail biz of GDF SUEZ has teamed up with Comverge (COMV) in order to offer its commercial and industrial customers demand response services to help them decrease energy usage and cost.  GDF SUEZ is currently the 2nd largest provider of non residential energy, so this is a significant win for Comverge.  At first, the ERCOT, NEPOOL, NYISO and PJM territories (whatever that means) will be served with additional markets and product expansion possible in the future between the two companies. 

“This relationship allows us to offer businesses a broader, more complete range of products to meet their energy needs,” said Bob Wilson, President and CEO, GDF SUEZ Energy Resources NA. “Our company continuously strives to provide the best possible product offerings to our customers, and Comverge offers Demand Response solutions that work to reduce energy costs for customers in each of the deregulated markets we serve.”

Shares of COMV are up over 4% today on the news, but the stock has taken out the 50 day moving average and appears to be in the process of carving out a much needed base after a torrid run.

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