The following is a news release from ConEdison Solutions

VALHALLA, NY – April 17, 2014 – ConEdison Solutions, one of the country's largest energy services companies, is alerting developers, building owners and institutions in New York City to take advantage of major increases in "peak demand," or peak load, financial incentives offered to large energy users that agree to partially curtail energy use on the summer's hottest days, when energy demand reaches its peak.

The proposed incentive levels in 2014 will increase payments by 60 percent or more above what was paid for similar "demand response" (DR) curtailments in 2013. Targeting major users in the five boroughs, the enhanced incentives are provided by the New York Independent System Operator (NYISO) and Con Edison, the regulated utility that serves New York City and Westchester. These new Con Edison utility demand response incentive payments were formally approved by the New York State Public Service Commission (NYPSC) in mid-March.

To demonstrate the dollars-and-cents scope of the new, enhanced Con Edison and NYISO DR incentives, ConEdison Solutions cites this hypothetical example: In 2013, if a 1.4 million square-foot office building were fully equipped by ConEdison Solutions to earn the maximum in DR incentive payments, its owner may have been paid $178,000 for reducing load during "peak load" alerts.

By contrast, in 2014, that same owner making that same reduction would be paid about $300,000 -- a 60-percent increase over 2013.

"Peak load incentives for DR programs available in New York City are about to increase significantly over the course of a single year, and the city's forward-thinking energy users will be poised to take full advantage," said Jorge J. Lopez, President and CEO of ConEdison Solutions. "Additionally, customers are leveraging our advanced demand response technology to earn revenues throughout the year by executing energy ‘sell-backs' timed to periods when market prices are right."

When demand is extremely high, "peak load" alerts are issued by the NYISO, a not-for-profit corporation responsible for operating New York's statewide electricity grid and maintaining its reliability. In addition, when Con Edison detects extraordinary demand on its local utility distribution system, the utility will call an event requesting customers participating in their DR programs to curtail consumption. Users who participate in these programs and reduce energy consumption during these events earn incentive payments.

ConEdison Solutions officials emphasized, however, that owners and institutions must act quickly to take full advantage of the increased 2014 incentives because participant's applications must be filed with the NYISO and Con Edison by May 1st in order to participate in the June 1, 2014 program start date.

To enable clients to achieve maximum value from demand response opportunities, ConEdison Solutions has equipped large-scale energy users with a sophisticated demand response capability called VPower. VPower leverages proprietary software to give users the ability to control their response to grid events called by the ISO or utilities, including Con Edison. In addition, the VPower software gives customers a dashboard that provides a view into system performance and compliance during an event. This enables customers to ensure they are maximizing the value of their participation and meeting their commitment requirements.

ConEdison Solutions works with clients to assess their facilities' energy requirements and system capabilities to identify opportunities for reducing consumption when an event is called. The process results in a protocol for clients that identifies the equipment modifications necessary to achieve load reductions. ConEdison Solutions, as part of the VPower installation, will synchronize these modifications with our client's building management system to allow for a quick response and minimal involvement of on-site staff.

As part of the DR evaluation, ConEdison Solutions incorporates the benefits of demand response in modifying a client's load shape into their energy supply portfolio. In addition, as a result of the engineering evaluation of a client's facility, ConEdison Solutions will look to identify energy efficiency opportunities for the client as well.

Tags:
ConEdison Solutions   New York  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
Long Island Lawmakers Decry "Poison Pill" Charge In LIPA Tariff For Opt-out Municipal Aggregation
NY Agency Reminds That Unsolicited Telemarketing Calls Are Prohibited During State of Emergency
New York DPS Staff Proposes Customer Data Access Framework, Consent, Qualifications (Cyber-risk)
Multi-City New York Municipal Aggregation Including Albany & Capital Region Delayed
LIPA Adopts Tariff Allowing Opt-out Municipal Aggregation