CPower to Acquire Centrica’s U.S. Demand Response Business
Positions CPower as the Leader in Enabling Grid Flexibility and Reliability With ~6.3 GW of Distributed Energy Resource Capacity Available to Help the Grid
BALTIMORE – July 11, 2022 – Today, leading national energy solutions provider CPower Energy Management (“CPower”) announced it has entered into a definitive agreement to acquire the U.S. demand response division of Centrica Business Solutions, LLC (“Centrica”). Centrica is an integrated energy solutions company that is a leading provider of commercial and industrial load management with customers in PJM, ISO-NE, NYISO, and ERCOT. The acquisition will position CPower as the U.S. leader in providing grid flexibility and reliability through customer-powered distributed energy resources (DER), with nearly 6.3 GW capacity at more than 17,000 sites available to be dispatched to the grid when it’s needed most. In return, CPower helps participating DER owners keep energy costs low, enhance resiliency, and avoid carbon emissions by being available to use less electricity during peak periods.
“Today marks an important milestone for CPower, as we will become the unequivocal U.S. leader for offering flexibility and monetization through Distributed Energy Resources. We look forward to welcoming Centrica customers, who can expect the industry’s highest rated customer experience backed by innovation, expertise, and quality service. As this acquisition expands our reach across PJM, New England, New York and ERCOT, our current customers will benefit from being aggregated in the industry’s largest portfolio, with access to the widest array of grid service solutions to help enable the energy transition,” said John Horton, President and CEO, CPower.
CPower helps the power grid and more than 2,000 DER owner customers across the U.S. to reduce power during critical periods when the grid is stressed, including many household brand names across big box retail, data centers, commercial real estate, education, manufacturing, production and industrial processing, government and education industries. The company also recently announced a new partnership to aggregate residential smart thermostats.
The transaction is expected to close in the third quarter of 2022, subject to regulatory approval and customary closing conditions.
About CPower Energy Management
CPower Energy Management is the leading, national energy solutions provider guiding customers towards a clean and dependable energy future. We manage approximately 5.6 GW of capacity across the U.S., 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 55 local energy programs, partnering with grid operators and utilities to serve nearly 16,000 sites, delivering approximately 286,000 metric tons of CO2 reductions in 2021 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.
About Centrica Business Solutions
Centrica Business Solutions is part of Centrica, a leading energy services and solutions provider founded on a 200-year heritage of serving people. We analyze, finance, install, operate & optimize energy, working across energy sources to transform the way businesses acquire, consume and manage their power.
We work with businesses across North America, helping commercial, industrial and public sector organizations become more efficient, resilient and sustainable. Our purpose of helping customers live sustainably, simply and affordably drives our strategy and our People and Planet Plan.
Centrica Business Solutions will continue to focus on supporting business customers through growth of its core sustainable energy services business, enabling them to balance the demands of sustainability and cost management through energy services.
CPower Energy Management
Centrica Business Solutions