Press release from Business Wire
NRG Energy to Offer Demand Response Capability Through Acquisition of Energy Curtailment Specialists
<p class='bwalignc'> Expands customer options for retail electricity needs </p>
Thursday, August 22, 2013
NRG Energy to Offer Demand Response Capability Through Acquisition of Energy Curtailment Specialists15:45 EDT Thursday, August 22, 2013
PRINCETON, N.J. (Business Wire) -- NRG Energy, Inc. (NYSE:NRG) has acquired Energy Curtailment Specialists (ECS), one of the largest, private demand response providers in North America. ECS offers business customers ways to contribute to energy load reduction during times of peak demand. Energy Curtailment Specialists currently manages more than 2,000 megawatts of demand response across the country for over 5,000 customers.
“NRG has been on the forefront of giving customers greater choice in how their power is made,” said Jim Steffes, President NRG Retail Northeast. “Acquiring Energy Curtailment Specialists' demand response and other solutions allows us to continue this leadership by enhancing our ability to help our customers reduce their electricity demand when that reduction is critical to maintaining the electrical grid and to do so in a way that improves their bottom line.”
“Combining the demand response services that Energy Curtailment Specialists delivers with the strength of NRG Energy and their ongoing efforts to give electricity customers more and smarter energy choices is a natural fit,” said Jim Korczykowski, who will continue to serve as President of Energy Curtailment Specialists, within the NRG Energy organization. “Together, we are in a tremendous position to better meet our customers' ever-evolving energy needs.”
Energy Curtailment Specialists' headquarters will remain in the Buffalo, NY area.
Terms of the transaction are not being disclosed.
NRG is at the forefront of changing how people think about and use energy. We deliver cleaner and smarter energy choices for our customers, backed by the nation's largest independent power generation portfolio of fossil fuel, nuclear, solar and wind facilities. A Fortune 500 company, NRG is challenging the U.S. energy industry by becoming one of the largest developers of solar power, building the first comprehensive electric vehicle ecosystem, and providing customers with the most advanced smart energy solutions to better manage their energy use. In addition to 46,000 megawatts of generation capacity, enough to supply nearly 40 million homes, our retail electricity providers – Reliant, Green Mountain Energy and Energy Plus – serve more than two million customers. More information is available at www.nrgenergy.com. Connect with NRG Energy on Facebook and follow us on Twitter @nrgenergy.
NRG Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include NRG's expectations regarding the anticipated benefits of the acquisition of Energy Curtailment Specialists. Forward-looking statements typically can be identified by the use of words such as “will,” “expect,” “believe,” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the power industry, competition in wholesale and retail power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power and retail markets, and changes in government regulation of markets and of environmental emissions. NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause NRG's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
Dave Knox, 713-537-2130
Chad Plotkin, 609-524-4526