Clean Energy solutions provider Comverge (NASDAQ:COMV) has announced a 10-year Virtual Peaking Capacity (VPC) contract with The Connecticut Light and Power Company (CL&P). The VPC program will be marketed to residential and small-business customers.
The program, pending approval by the Connecticut Department of Public Utility Control, would allow CL&P to use up to 130 megawatts of clean capacity in times of peak energy demand for increased grid reliability at a lower cost than conventional alternatives.
Comverge would build, operate, maintain and own the system, the largest residential and small business VPC program in North America.
"Demand response programs are becoming a key element in the operation of the electric grid," Robert M. Chiste, chairman, president and CEO of Comverge, said in a statement. If approved, the program would provide a means of lowering Connecticut's peak electric demand, Chiste said.
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