NEW PROGRAM ENABLES BUSINESSES TO REDUCE ELECTRICITY COSTS BY UP TO 25% WITH ACTIVE CONSUMPTION MANAGEMENT AND MINIMAL OPERATIONAL EFFORT
Katonah, NY (March 5, 2020)—Joule Assets announced today the launch of a Capacity Tag Management Program for business customers. Offered through Joule Community Power, this seasonal program has enabled Joule’s current commercial customers to save over 20% on electricity costs by helping them manage—with minimal operational effort—their electricity consumption during peak usage hours. Unlike demand response programs, which provide revenue to those who curtail consumption during specific times of peak demand, capacity tag management lowers the actual rate the customer pays for electricity over the entire following year.
A capacity tag is the portion of an electric bill based solely on a customer’s power consumption during the single hour of the previous year when the entire grid’s energy demand is at its highest. Roughly 25% of a customer's rate for the next year is based on what is consumed by the customer during that hour. This new service, offered June through September, helps customers manage their demand at the times that are most likely to impact their rate.
Joule Assets CEO Mike Gordon notes, “Through several years of working closely with a retail customer in multiple sites, we have realized the substantial benefits of managing capacity tags and curtailing peak load at critical times. And we now want to extend these benefits to folks who just don't have the staff support of a 4,000-store company.”
“When customers commit to curtailing their capacity tag cost, savings potential is huge. Through close communication between Joule and the customer, we can maximize the business outcome with minimal operational effort, changing the way our customers look at their electricity bills,” states Eddie Streng, Capacity Tag Program Manager for Joule Assets.
About Joule Community Power
Joule Community Power (Joule) works with municipalities and local partners to empower communities and facilitate their goals of providing residents and businesses with cleaner and cheaper energy. Joule principals were responsible for implementing New York State's first Community Choice Aggregation Program (CCA)—a program that enables communities to aggregate local energy demand in order to: 1) save money—gain leverage to procure less expensive electricity for residents and businesses, 2) make money—create new revenue opportunities by participating in energy markets, and 3) go green—gain local control to opt for clean and renewable generation sources. Joule is the only company in New York State offering CCA administrative services with a Public Service Commission-approved implementation plan that integrates local renewable energy projects, and only Joule has the expertise, relationships, and experience to effectively design, implement, and manage such a program. Joule also offers capacity tag management services to businesses wishing to reduce their electricity costs by strategically managing their energy consumption. Joule Community Power is a division of Joule Assets. Learn more at
joulecommunitypower.com.
About Joule Assets
Joule Assets (Joule) actively empowers businesses, investors, communities, and individuals in the U.S. and Europe to capitalize on sustainable energy assets. Using our regulatory expertise and market intelligence, Joule negotiates for cheaper, cleaner energy supply on behalf of communities in New York State. In Europe, Joule provides financing solutions and strategic support for sustainable energy assets through our eQuad investment platform, catalyzing the marketplace for European project developers and investors. Each business unit
Joule Community Power and
Joule Assets Europe–supports Joule’s overarching mission to shift the energy paradigm towards clean generation, cheaper supply, and reduced energy consumption
Contacts:
Eddie Streng
Capacity Tag Management Program Manager
