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EBCE and OhmConnect Sign Innovative Demand Response-Backed Peak Energy Hedge Agreement
Deal leverages customer energy efficiency as low-cost, zero-emission way to stabilize the grid during peak hours
Oakland, CA - East Bay Community Energy (EBCE), the public agency that provides electric generation service throughout most of Alameda County, and Resi-Station, a virtual power plant developed and managed by OhmConnect, the home energy management company that pays residents to save energy, have signed an agreement that will empower residential consumers in California to help stabilize the electric grid when power is most expensive and the grid is most vulnerable.
The transaction engages OhmConnect's over 150,000 active consumers to lower energy consumption in the evenings, when abundant solar generation in California wanes. EBCE in turn can rely on OhmConnect to work with their subscribers to reduce consumption at critical times, which helps EBCE to manage CAISO market energy costs during these more expensive and more polluting hours.
"This deal demonstrates that the transition away from fossil fuels will not only enhance grid reliability, but will also lower costs and empower consumers to drive the clean energy transition" said EBCE CEO Nick Chaset.
"The August 2020 heat wave caused power outages when the grid was most stressed in the early evening hours," said OhmConnect CEO Cisco DeVries. "With this innovative agreement, OhmConnect will use its technology platform to provide EBCE clean energy and greater grid reliability during the early evening peak period."
ABOUT East Bay Community Energy
EBCE is a not-for-profit public agency that operates a Community Choice Energy program for Alameda County and eleven incorporated cities, serving more than 550,000 residential and commercial customers throughout the county. EBCE initiated service in June 2018 and will expand to the cities of Pleasanton, Newark, and Tracy in 2021. As one of 19 community choice aggregation (CCA) programs operating in California, EBCE is part of the movement to expedite the climate action goals of their communities and those of California. EBCE is committed to providing clean power at competitive rates while reinvesting in our local communities. For more information about East Bay Community Energy, visit ebce.org.
OhmConnect was founded in 2014 with the vision of becoming the world's largest supplier of clean energy. Today, OhmConnect enables hundreds of thousands of customers to reimagine how they use energy, to choose clean energy over dirty energy when required, and to be rewarded for timely, smarter, home energy use. OhmConnect makes it possible for customers to use clean energy without buying an expensive solar system or changing to a different energy provider from their common regional utility service. OhmConnect pays its users for saving energy when the grid is at risk of using dirty power. Customers of the three major California energy suppliers – Pacific Gas and Electric (PG&E), Southern California Edison and San Diego Gas & Electric – can sign up with OhmConnect for free at ohmconnect.com. Follow OhmConnect on Twitter @OhmConnect, see the OhmConnect blog or check it out on Facebook and LinkedIn.