The City of Evanston and Verde Energy USA (“Verde”), an independent retail power supplier and energy solutions provider, jointly announced today that Verde has been selected as the City’s electricity supplier, effective August 2013. As part of its agreement with the City, Verde Energy will also install Ice Bear™ technology – a clean energy storage system – in one of Evanston’s municipal buildings.
Verde, which serves over 70,000 customers in 14 municipalities through aggregation programs, participated in the City’s open Request for Proposal process to select an electricity supplier for the City’s ongoing electricity aggregation program. The City received multiple bids, and the Verde proposal offered the lowest price. Under the terms of the agreement with Verde, residents will receive a 100% renewable fixed rate of $0.05192/kWh through August 2014. Residential and small commercial retail customers will have the right to “opt-out” of the aggregation program without penalty or a cancellation fee.
“We recognize that energy prices have been moving up significantly over the last several months. The selection of Verde, the lowest price bidder, will provide savings to our ratepayers, compared to other available options. In addition, this partnership offers residents and small businesses a 100% green product. Our choice of providers underscores our community’s recognition of the importance of both cost-effectiveness and energy efficiency, and we look forward to working with Verde to accomplish those goals,” said Evanston Mayor Elizabeth Tisdahl.
“We are very pleased to have been selected by Evanston as its energy supplier and, through this agreement, to expand our existing Energy Storage Solutions Program in Illinois. We look forward to making our energy efficiency solutions available to the residents of Evanston, including demonstrating how our investment in the Ice Bear™ unit will help to achieve energy efficiency, reduce costs, and enhance grid reliability,” said Thomas FitzGerald, President and CEO of Verde Energy USA.
The Ice Bear unit replaces conventional air conditioning condensing units, a component of a typical building cooling system. It shifts air conditioning electrical power demand to off-peak hours by using plain water to make ice at night, when the electric grid is generally unstressed. Then, during a hot summer day, when demand goes up and electric prices may be higher, the melting ice bathes the air conditioner's compressor with cool air so the air conditioning unit uses less energy at a peak demand time to cool the building. The melted water is then recycled through the system and the process begins again the following night. The result is lower energy costs and increased grid reliability.
As part of the agreement, Evanston residents and qualifying small businesses will have unlimited access to Verde Energy Savings Solutions (ESS) tools at www.ilmunipower.com/evanston. These tools, available exclusively to Verde Energy USA customers, will allow users to monitor and analyze their monthly energy usage, access information on how they can reduce their energy consumption and purchase energy-saving products at a discount.
As part of Verde’s pioneering Energy Storage Solutions Program, Evanston will join the Illinois cities of St. Charles and Naperville in their leadership efforts to advance innovative thermal energy storage technology within Illinois.
About Verde Energy USA
Verde Energy USA is a rapidly growing Retail Energy Supplier focused on the residential and small to mid-size commercial power markets. Through Verde Energy Solutions, its wholly-owned subsidiary, Verde aims to broaden and accelerate the adoption of state-of-the-art clean energy technologies. Headquartered in Norwalk, Connecticut, Verde Energy USA has grown substantially since its market launch in November 2009. Currently servicing markets in Connecticut, New Jersey, Pennsylvania, Illinois and Ohio, Verde is strategically positioned for continued growth in new markets including New York, Massachusetts, and Maryland. For more information, visit www.verdeenergyusa.com.