Through the acquisition of CPower, which designs and manages programs that allow its commercial, utility and public sector customers to reduce electricity demand during peak demand periods, Constellation Energy will expand its total demand response capacity to 1,500MW.
In addition, the transaction will enable Constellation Energy to expand its customer base, sales presence and business partner community in key markets such as Texas, New England, California, the Mid-Atlantic states (PJM), and Ontario, where CPower manages demand response programs.
Closing of the agreement, which is subject to customary closing terms and conditions, is expected in the fourth quarter of 2010, facilitating the companies’ cross-selling opportunities and operational capabilities, and enhancing demand-management product development.
Constellation Energy senior vice president Kathleen Hyle said that the expanded sales and marketing presence and diverse demand response expertise will accelerate deployment and commercialization of its recently introduced online energy management product, VirtuWatt.
