Con Edison Selects ICF for $30+ Million Energy Efficiency Contract

Rhea-AI Summary

Con Edison of New York has awarded ICF a recompete contract valued at over $30 million to manage and expand its residential energy efficiency portfolio. This contract will enable ICF to provide a comprehensive range of services, including program delivery, engineering, and customer support, extending coverage to additional subsidiary customers in New York and New Jersey. The partnership has been ongoing for over 15 years, focusing on innovative energy efficiency programs aimed at optimizing portfolio efficiency and meeting state decarbonization goals.

Positive

• Award of new contract valued at over $30 million.
• Expansion of services to additional Con Edison subsidiaries and counties.
• Long-term partnership with Con Edison enhances credibility.

Negative

• None.

FAIRFAX, Va., Feb. 1, 2022 /PRNewswire/ -- Con Edison of New York has recently selected global consulting and digital services provider ICF (NASDAQ:ICFI) for a recompete contract to manage and significantly expand implementation of its residential energy efficiency portfolio. The contract has a ceiling value of over $30 million.

ICF will continue to implement Con Edison's residential energy efficiency portfolio and other programs, providing a full suite of services including program delivery, engineering, marketing, information technology, customer care and incentive processing. This includes implementing the utility's New York State Clean Heat decarbonization program as well as a new weatherization component.

Con Edison of New York serves 3.5 million customers in New York City and Westchester County, N.Y. Under the contract, ICF will also expand its support coverage area to encompass customers in additional Con Edison Inc. subsidiaries and counties in New York State and New Jersey.

"For over 15 years, ICF has partnered with Con Edison to develop and deliver innovative energy efficiency programs that bring energy savings and value to their customers," said Anne Choate, ICF senior vice president and energy, environment and infrastructure lead. "We look forward to expanding our support to help the utility continue to optimize its portfolio, make its programs even more efficient and achieve aggressive state decarbonization goals."

With over three decades of experience developing award-winning demand-side management and energy efficiency programs that touch every phase of the program lifecycle, ICF applies advanced analytics and deep domain expertise to help utilities plan, design and implement best-in-class programs and portfolios.

Read more about ICF's energy efficiency services and how it helps clients meet their electrification and decarbonization goals.

About ICF
ICF is a global consulting services company with approximately 8,000 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements that are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

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SOURCE ICF

FAQ

What is the value of the new contract awarded to ICF by Con Edison?

The new contract awarded to ICF by Con Edison is valued at over $30 million.

What services will ICF provide under the new Con Edison contract?

ICF will provide a full suite of services including program delivery, engineering, marketing, and customer care under the new contract.

How long has ICF been partnering with Con Edison for energy programs?

ICF has been partnering with Con Edison for over 15 years to deliver energy efficiency programs.

Which states are included in the expanded coverage under the new contract?

The expanded coverage under the new contract includes customers in New York State and New Jersey.