CPower Recognized as a Leading Virtual Power Plant Provider
Established Industry Leader Showcases Growth and Achievements Across Its Business
BALTIMORE – December 1, 2021 – Global energy and natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK), recognized CPower Energy Management (“CPower”) as one of the leading providers of Commercial & Industrial Virtual Power Plants (VPPs) in a new report, Battery storage virtual power plants: From early pilots to gigawatt scale. As a leading, national energy solutions provider with more than 4.5 GW of Distributed Energy Resource (DER) managed capacity across the U.S., CPower forms VPPs by facilitating and optimizing participation in demand-side management programs. In doing so, CPower provides grid operators and utilities with flexibility, delivering power where it’s needed most, while helping energy users reduce their emissions and manage energy costs.
The Wood Mackenzie recognition follows recent growth and momentum achieved by CPower:
- Delivering economic value to energy users: In 2021, CPower expects to pay approximately $230 million in grid revenue to its customers.
- More users than ever choose CPower: CPower signed on 364 new customers for the 21-22 delivery year, a record enrollment season for the company. CPower has more than 1,850 customers at over 11,000 sites across North America.
- Record-breaking peak season supported by 24×7 dispatch: Building off its established history of enabling demand-side management, CPower has facilitated approximately 900 dispatches so far in 2021 to quickly connect the needs of its customers to the ever-changing needs of the grid.
- Unlocking benefits for Distributed Generation owners and their customers: the company works with leading DER partners such as Sunnova, AMPLY and Scale Microgrid Solutions on projects in NYISO, ISO-NE, ERCOT, CAISO and PJM to maximize the value of their customers’ behind-the-meter assets.
- Third-party influencers validate CPower’s strategy: CPower has received award recognition from numerous industry organizations in 2021, winning the E+E Leader Project of the Year and FacilitiesNet Vision Awards, as well as being named a finalist in the S&P Global Platts Global Energy Awards. CPower’s President and CEO John Horton has also been named to the 2021 E+E Leader 100 list.
“This has been a year of immense growth for CPower, and I’m proud of our team for continuing to deliver value for our customers, excellence across our operations and innovation to bring about meaningful change in how energy is generated, delivered, and consumed,” said Horton. “Our mission is to help our customers make decisions and take actions that will create a cleaner and more dependable energy future. Unlocking exceptional value for our customers, building a more resilient grid and improving the sustainability of our communities will make this vision a reality.”
“It has been exciting to watch CPower’s evolution over the years. The company has continued to build out its extensive customer portfolio in 2021, while enhancing its technology platform, delivering more value to energy users and the grid, and is leaning into the energy future with innovative DER partnerships. I look forward to seeing what they do next,” said Peter Kelly-Detweiler, Co-Founder, NorthBridge Energy Partners LLC.
About CPower Energy Management
CPower Energy Management is a leading, national energy solutions provider guiding customers towards a clean and dependable energy future. We manage more than 4.5 GW of customer capacity across North America, forming virtual power plants that are good for the grid and great for the community. CPower maximizes the value of our customers’ electricity loads, facility assets and distributed energy resources while delivering flexibility, capacity and other ancillary services to the grid. With more than two decades of experience, we’ve grown to offer more than 50 local energy programs, partnering with grid operators and utilities to serve more than 11,000 sites, delivering approximately 7,000 metric tons of CO2 reductions in 2020 alone. CPower is based in Baltimore, Maryland and is owned by LS Power, a development, investment and operating company focused on the power and energy infrastructure sector. For more information, visit: www.cpowerenergy.com.