GMP’s stored energy network saved customers $600,000 during last energy peak

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GMP’s stored energy network saved customers $600,000 during last energy peak

Mon, 08/27/2018 - 3:47pm -- tim

Vermont Business Magazine Forecasters and energy experts predict heat and humidity will drive up power demand on the New England grid Tuesday and Wednesday this week, and Green Mountain Power is pushing to save customers even more money by partnering with them for "a laser-like focus on crushing the peak" between 4 and 7 pm on both days – without comprising safety or comfort. This partnership, GMP said in a statement Monday, can also radically reduce carbon output, an objective important to Vermonters, and the globe.

ISO-New England, the grid operator uses the annual peak hour of energy to calculate what each utility in the region pays for the coming year, so strategically reducing demand during that key time can create big savings for customers. The regional peak so far this year was set Aug. 6, and GMP used stored energy to save customers $600,000.

GMP expects its network of stored energy – more than 660 Powerwall batteries in customers’ homes and community solar installations with battery storage – can again offset more than $600,000 in costs and about 21,120 pounds of carbon, the equivalent of not burning about 1,078 gallons of gasoline.  Customers can help generate even more savings and cut more carbon, by simply being aware and reducing their power use during those key hours of 4 p.m. to 7 p.m. on Tuesday and Wednesday, while remaining safe and comfortable. With GMP and customers working together, GMP estimates savings could reach more than $1 million for everyone GMP serves.

“We will be watching demand on the grid and using all the innovative tools we have to drive down costs for our customers, including Powerwall batteries and even stored energy in water heaters of customers who’ve joined our free eWater program,” said GMP Vice President and Chief Innovation Officer Josh Castonguay.

GMP has partnerships with customers to tap into stored energy in their water heaters or reduce flow through their electric vehicle chargers during peak demand times, seamlessly maintaining their comfort and convenience while increasing savings for all GMP customers.

To sign up and learn more about GMP’s eWater and home charging programs go to: https://greenmountainpower.com

About Green Mountain Power

Green Mountain Power (GMP) serves approximately 265,000 residential and business customers in Vermont and is partnering with them to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective and reliable power in Vermont. GMP was the only utility named to Fast Company’s 2018 list of Most Innovative Companies for Energy and is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. J.D. Power’s 2018 rankings also put GMP among top utilities for customer satisfaction.

Source: GMP 8.27.2018