Sparkion and Voltus Partner to Leverage Energy Storage as a Dual Use Asset by Connecting EV Sites to U.S. Electricity Markets
Sparkion US EV charging assets to join Voltus’s virtual power plant network
SPRINGFIELD, Ill., May 1, 2018 /PRNewswire/ -- Voltus, Inc., the leading provider of demand response to the commercial and industrial market, announced today that it has been selected as one of only three winning suppliers of the Illinois Power Agency's (IPA) capacity procurement for Ameren, Illinois. The 225 MWs of capacity procured in this process is for planning years 2019/2020, and the award secures Voltus's position for the second year in a row as the only demand response provider to win a contract in the IPA procurement process, which began in 2007. Additional details on the RFP results are found at https://www.ipa-energyrfp.com/?wpfb_dl=1625.
"Our commercial and industrial demand response network in Illinois continues to deliver tremendous savings to customers, significantly reducing capacity prices that often amount to 30% of a customer's annual energy bill," said Gregg Dixon, CEO of Voltus. "What we find most interesting is that this IPA procurement secured capacity at 10% of the cost of the well-known subsidies to two uneconomic nuclear plants that formed the basis for SB2814, the energy bill passed by the Illinois legislature in late 2016 that propped up these plants. The MWs that Voltus is delivering are zero emission credit quality resources that don't need subsidies to provide safe, reliable, affordable, and clean energy to Illinois electricity customers."
As a percentage of state electricity demand, and with the help of Voltus, Illinois now leads the nation in demand response MWs enabled to meet state-wide electricity supply needs while delivering among the nation's best power reliability and lowest capacity rates. As this resource grows rapidly in Illinois, ratepayers enjoy a 250% return on the dollars invested in demand response versus a traditional mix of supply, as evidenced by an Advanced Energy Economy report found at: http://info.aee.net/hubfs/PDF/aee-peak-demand-reduction-strategy.pdf?t=1446657847375.
"The IPA procurement is a strong hedge against future capacity price increases in the MISO footprint. MISO's vertical demand curve is the proverbial sword of Damocles that will fall as outdated central power plants continue to retire and power demand rises," said Dana Guernsey, Vice President of Market and Business Operations. "The capacity price shocks that characterized the MISO Planning Resource Auction in 2015 and 2016 are likely to return if this market flaw isn't addressed at the federal or state level."
About Voltus, Inc.
Voltus represents the "potential of us" to better manage energy through simple, cost-free energy management products. Our commercial and industrial customers generate cash by allowing us to be their energy expert while we deliver innovative demand response, energy purchasing, and energy efficiency programs to them. It's this simple: a customer signs up with Voltus and every quarter we deliver dollars. Voltus makes money when our customers make money by sharing the cash generated from working together. What's more, there are significant community benefits that accompany working with Voltus - a cleaner, more reliable energy future and dollars invested back into your business and jobs instead of being wasted on a larger energy bill.