EAST HANOVER, N.J., Oct. 6 /PRNewswire-FirstCall/ -- Comverge, Inc. (Nasdaq: COMV) a leading clean capacity provider through demand response and energy efficiency, announced they have partnered with TransCanada Power Marketing Ltd. (an indirect wholly-owned subsidiary of TransCanada Corporation), a leading electric retailer based in Westborough, MA, to provide energy management services to reduce energy use and costs.
'This partnership expands our energy offerings, adds real value for our customers and maximizes our competitive strength,' said William Taylor, TransCanada's vice-president and general manager, Eastern Power. 'Comverge's demand side technology enables us to provide our customers with the tools they need to achieve significant savings and meet their energy reduction goals.'
TransCanada is an active retail electric supplier in Maine, Massachusetts, New Hampshire, Connecticut, and Rhode Island. The company was the first retail supplier to deliver competitively procured electricity in Massachusetts in 1998 and has a retail portfolio that includes major corporations, hospitals, colleges, universities and government facilities.
In addition to a power marketing and commercial office in Westborough MA, TransCanada owns and operates or has under development 3,739 MW of energy assets in the U.S. Northeast, including 567 MW of hydroelectric generation along the Connecticut and Deerfield Rivers, and the 132 MW Kibby Wind Power project under construction in Northwestern Maine.
Comverge will extend additional energy services to TransCanada for its commercial and industrial (C&I) customers, to help produce energy load reduction and related services. Together, Comverge and TransCanada will provide various product offerings to reduce energy costs during peak times when the price of energy is high or the electricity grid is congested. In addition, these demand response programs will compensate customers for curtailing load.
'We are offering TransCanada's retail electric customers an opportunity to manage their energy usage and costs,' said George Hunt, senior vice president of the Comverge Clean Energy Solutions Group.