Comverge Announces Regulatory Approval of VPC Contract With One of Nation's Largest...
* Reuters is not responsible for the content in this press release.
Comverge Announces Regulatory Approval of VPC Contract With One of Nation's
Largest Utilities
Approval Marks Mobilization of 4-Year Contract with Southern California Edison
EAST HANOVER, N.J., Aug. 31 /PRNewswire-FirstCall/ -- Comverge, Inc. (Nasdaq:
COMV), a leading provider of comprehensive smart grid, demand management, and
energy efficiency solutions, today announced that a 4-year, 40 megawatt
Virtual Peaking Capacity((R)) (VPC) contract with Southern California Edison
(SCE), announced in June 2008, has received regulatory approval.
"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."
Through its VPC program, Comverge will build, operate and maintain a demand
response system to help secure electricity reliability during periods of peak
demand. With 285,000 commercial and industrial customers in 50,000 square
miles of service area in central, coastal and Southern California, SCE is the
largest electric utility in California.
"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."
About Comverge
Comverge, with over 3,300 megawatts of clean energy capacity under management,
is a leading provider of clean energy solutions that improve grid reliability
and supply electric capacity on a more cost-effective basis than conventional
alternatives by reducing base load and peak load energy consumption. For more
information, visit www.comverge.com. Virtual Peaking Capacity is a registered
trademark of Comverge, Inc.
For Comverge Investors
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 megawatt and
customer participation results, expectations of future performance 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, grid
operator rule 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
Kristin Mastrandrea
Communications Manager
Comverge, Inc.
973-434-7157
kmastrandrea@comverge.com
SOURCE Comverge, Inc.
Kristin Mastrandrea, Communications Manager, Comverge, Inc., +1-973-434-7157,
kmastrandrea@comverge.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters