NORCROSS, Ga., Jan. 9, 2012 (GLOBE NEWSWIRE) -- Comverge, Inc. (Nasdaq:COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial & Industrial (C&I) customers, today announced that it has extended its partnership with Gulf Power to help advance the country's largest and most successful residential dynamic pricing program. Under the terms of the agreement, which Comverge estimates to be valued at more than $10 million, Gulf Power will deploy Comverge's IntelliSOURCE 2.0 platform and intelligent devices to support the growth of the Gulf Power Energy Select program from approximately 8,000 participants to an expected 16,000 participants within the next four years. The agreement was executed as part of a new master services contract between Southern Company, Gulf Power's parent company, and Comverge, which enables Comverge to provide technology and services to all Southern Company operating companies. The agreement replaces the Company's existing contract with Gulf Power.
The IntelliSOURCE 2.0 platform transforms the Energy Select program by allowing Gulf Power to manage all intelligent devices through an "always on, two-way IP network" that uses the customer's broadband internet connection. Energy Select participants can automate their home energy usage by programming their intelligent devices through an easy to use web portal, which then automatically respond to dynamic pricing signals from Gulf Power. By having this level of customer enablement integrated with intelligent energy devices in the home that are linked to IntelliSOURCE, the Energy Select program provides Gulf Power with a highly reliable source of capacity, unlike programs that use stand-alone home energy management portals.
"The Energy Select program results in significant improvements in customer satisfaction and proven reductions in peak demand," said David Eggart, Energy Select Program Manager, Gulf Power. "Comverge has been a valued partner in helping us bring this innovative program to the marketplace. It was only natural that we would extend our relationship with them to enhance the Energy Select program by adopting the IntelliSOURCE platform. By leveraging Comverge's comprehensive suite of hardware, software and services, we expect to further meet our program goals of continued improvement in customer satisfaction, reduced generation needs, and more effective use of existing capacity."
Gulf Power's Energy Select Program gives customers greater control over their energy usage by allowing them to pre-program their central cooling and heating system, electric water heaters and pool pumps to automatically respond to pricing tiers and dynamic price signals from Gulf Power. Participants have the opportunity to pay a lower price for electricity approximately 85 percent of the time. By leveraging the web portal capabilities of IntelliSOURCE 2.0, Energy Select participants can view their energy usage patterns and program their devices over the internet.
"Gulf Power is one of the more forward-looking utilities in the nation and its decision to upgrade the Energy Select program with the IntelliSOURCE 2.0 platform is an important step to realizing the potential of the smart grid," said, R. Blake Young, President and CEO, Comverge. "Through this partnership we are about to see what is really possible when we combine best-in-class hardware, software and services with a customer base that has already proven a desire to reduce their peak energy consumption and make a positive impact on the environment."
Gulf Power is now the twentieth utility to adopt Comverge's IntelliSOURCE 2.0 platform to manage mass market demand response programs.
Based in Pensacola, Florida, Gulf Power is an electric utility company that provides services to more than 430,000 customers in Northwest Florida. Gulf Power's commitment to providing its customers with reliable and affordable energy while at the same time minimizing any impact on the environment, has earned the company national recognition as a leader in energy efficiency. This commitment is demonstrated by its 15-year partnership with Comverge and its continued efforts to provide the best solutions in Intelligent Energy Management to its customer base.
About Comverge
With more than 500 utility and 2,100 commercial customers, as well as five million residential deployments, Comverge brings unparalleled industry knowledge and experience to offer the most reliable, easy-to-use, and cost-effective intelligent energy management programs. We deliver the insight and control that enables energy providers and consumers to optimize their power usage through the industry's only proven, comprehensive set of technology, services and information management solutions. For more information, visit www.comverge.com.
Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release are not and do not constitute historical facts, do not constitute guarantees of future performance and are based on numerous assumptions that, while believed to be reasonable, may not prove to be accurate. These forward looking statements include successful implementation of the program, anticipated financial and operational results, expectations of future performance under the program and certain assumptions upon which such forward-looking statements are based. The forward-looking statements in this release involve a number of factors that could cause actual results to differ materially, including risks associated with Comverge's business involving our products, the development and distribution of our products and related services, regulatory changes, economic and competitive factors, our key strategic relationships, and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the information or announcements described herein.