Usource Offers Demand Response
Hampton, NH (October 9, 2007): Usource, a subsidiary of Unitil Corporation providing energy management and procurement services to more than 800 large energy users throughout the northeast, now offers Demand Response measures to its clients. The most recent client to participate is Riverwoods of Exeter, New Hampshire, which will enroll in the New England ISO Demand Response Program.
According to Usource, while high electric and gas prices have driven large energy users to competitive energy procurement, many have yet to plunge into the demand response market - which offers potentially significant savings to sophisticated electricity users. Demand Response (DR) programs pay commercial and industrial consumers year round if they are able to reduce electric usage within a specified notice period when the electric grid experiences potential overload problems - which usually occur only in a limited number of hours in the summer.
Usource has worked with Riverwoods to implement a procurement strategy that continually exposes their electric needs to the competitive market and locks in their price through long-term contracts when the market is most competitive. This gives Riverwoods the predictability and price certainty they require to operate one of the premier retirement and assisted living communities on the seacoast of New Hampshire. Under the DR program, Riverwoods will now be able to earn year-round savings for relatively modest technology investments.
Kevin Goyette, Chief Financial Officer of Riverwoods says, "Usource has been integral in establishing an energy strategy vital to our success. They are committed to keeping us aware of changes in the industry which support our strategy. Bringing a demand response solution to the table with its benefits demonstrates Usource's continued commitment to Riverwoods."
Usource represents the customer in competitive energy markets and offers DR to its customers as a value added service. Usource is not a supplier. Usource has been recognized as the second largest energy broker in the United States, and began providing energy management and procurement services in 1999. Usource is a subsidiary of Unitil Corporation (AMEX: UTL), headquartered in Hampton, New Hampshire.