|By Marketwired .||
|September 2, 2014 11:30 AM EDT||
COLCHESTER, VT -- (Marketwired) -- 09/02/14 -- Demonstrating Vermont's national importance as a model for our energy future, Green Mountain Power and NRG Energy, Inc. (NRG) today announced a partnership to deploy a series of new products and services for Vermont businesses and residents. The partnership, which ultimately will expand throughout Vermont, is part of an effort to establish Rutland as the Energy City of the Future, and positions the state as a leader in the movement toward cost-effective sustainable energy solutions.
Beginning in early 2015, the partnership plans to bring innovative clean energy products and services to Vermont, helping customers manage energy use and save money. Central to the effort will be the development of an advanced distribution grid in Rutland. Leveraging NRG's microgrid capabilities, the two companies expect to transform the distribution grid from a 100-year-old electric delivery model to a market-based platform designed to create efficiencies and distributed energy solutions through renewable technologies and energy storage.
"This partnership is a really big deal for our customers and for Vermont," said GMP President and CEO, Mary Powell. "Our partner NRG Energy is a cutting edge leader in green energy solutions, and they see in Vermont the same potential that we at GMP have recognized for years. Our customers consistently tell us they want tools to save money and move to renewable energy sources, and we can show the rest of the country how to get there. This is what our energy future looks like."
"Through this partnership, we hope to demonstrate that investing in a 21st century energy eco-system that is more sustainable, resilient, affordable and individually empowering for the people of Vermont is more sensible than pouring more investment into the creaky old grid infrastructure from the 20th century," said David Crane, President and CEO of NRG. "In the course of so doing, we will also prove that the concepts of 'electric utility', 'renewables' and 'personal choice' are not mutually exclusive."
Products and service offerings from the new project include:
Personal Energy Management: Beginning in 2015, GMP will offer Vermont customers a comprehensive personal energy management solution -- a multilevel home control and convenience offering. Subscribing customers may be able to remotely manage energy consumption in their homes to increase comfort and save money. GMP may also offer NRG's web-based customer technology to provide Vermonters clear insight into electricity use, allowing them to make smarter choices. Customers may also be able to participate in demand response, in which they voluntarily reduce their use of electricity for specific periods in return for payments or credits on their bill.
NRG Portable Power: GMP will offer NRG's Portable Power solution allowing customers to break free from the outlet and charge their smartphones with an NRG Power Pack.
Electric Vehicle Infrastructure: GMP will work with NRG's eVgo division to develop and roll out an expanded, interconnected network of electric vehicle charging stations throughout the state, including several charging package options. Both "Level 2" and DC Fast Chargers will be installed in commercial and workplace locations.
Community Solar: In 2013, NRG Home Solar (formerly Residential Solar Solutions) built one of the first third party financed community solar arrays in the country. This array, in Rutland, VT, provides 50 residents and businesses a credit on their GMP bill for their portion of the solar energy produced by the array. Customers pay a small monthly fee and are covered by a power production guarantee. NRG is currently working on additional projects in Vermont as part of the partnership with GMP.
Micro-power: GMP is working with NRG to offer micro generation solutions to Vermonters, including NRG's Beacon 10. These units generate up to 10 kilowatts of electricity, provide heat for water and space heating, and offer battery storage and solar integration capability with onsite solar systems.
Microgrid: GMP has an ambitious vision for an energy future that takes Rutland and ultimately Vermont beyond the legacy grid system, supported by solar energy and new technology systems that ensure reliable power. Leveraging NRG's microgrid capabilities, the two companies intend to transform the distribution grid system to a market-based platform designed to create efficiencies and distributed energy solutions.
"I'm proud to stand with GMP and NRG today to announce a partnership that will help Vermont transform our energy future," said Governor Peter Shumlin. "We know the threat that climate change presents our economy and our way of life, but with this challenge comes opportunity. This partnership is exactly the type of leadership we need to seize that opportunity and create a model for the rest of the nation."
"This partnership will bolster Rutland's growth by reducing residents' costs and building on our clean-energy reputation," Rutland Mayor Chris Louras said. "Rutland has quickly become known as a hotbed for renewable energy, and the aggressive introduction of NRG's and GMP's innovative products and services will solidify Rutland's role as a national energy leader."
For more information about this initiative and the products and services offered, visit http://bit.ly/GMP-NRG.
About Green Mountain Power
Green Mountain Power (GMP) serves approximately 265,000 residential and business customers in Vermont and has a vision to be the best small company in America by empowering customers to save money and move to clean energy sources. GMP recognizes the role of electric utilities is changing and is focused on a new way of doing business to meet the needs of customers with integrated services, while continuing to generate clean, cost-effective and reliable power in Vermont. In 2014, Vote Solar named GMP a Solar Champion. More information at: www.greenmountainpower.com. Connect with GMP on Facebook and follow us on Twitter @GreenMtnPower.
NRG is leading customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation's largest and most diverse competitive power portfolio. A Fortune 250 company, we create value through reliable and efficient conventional generation while driving innovation in solar and renewable power, electric vehicle ecosystems, carbon capture technology and customer-centric energy solutions. Our retail electricity providers serve almost 3 million residential and commercial customers throughout the country. More information is available at www.nrg.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy and @NRGMedia.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions. Forward-looking statements typically can be identified by the use of words such as "expect," "believe," and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our products and services. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
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