Public Service Company of Oklahoma Selects ICF for Energy Efficiency Contract

Rhea-AI Summary

Public Service Company of Oklahoma (PSO) awarded a multimillion-dollar contract to ICF (NASDAQ: ICFI) to manage energy efficiency programs. As the primary implementer, ICF will oversee commercial and residential portfolios, providing services like program design, management, customer care, and database tracking. ICF aims to enhance efficiency and support PSO in delivering reliable energy. With over three decades of experience, ICF is well-positioned to meet evolving energy needs, including innovative solutions for the oil, gas, and agriculture sectors.

Positive

• Award of a multimillion-dollar contract enhances revenue prospects for ICF.
• Strengthening of long-term partnership with PSO could lead to additional contracts.
• ICF's extensive experience in energy efficiency programs supports future growth.

Negative

• None.

FAIRFAX, Va., Feb. 17, 2022 /PRNewswire/ -- Public Service Company of Oklahoma (PSO) recently awarded a multimillion dollar recompete contract to global consulting and digital services provider ICF (NASDAQ: ICFI) to manage and implement its energy efficiency programs.

PSO, a unit of American Electric Power, is an electric utility company serving more than 562,000 customer accounts in eastern and southwestern Oklahoma. As PSO's primary program implementer, ICF will serve as a strategic partner in managing the majority of the utility's commercial and residential portfolios. The company will provide a full suite of services including program design, program management and implementation, customer care rebate processing, call center support, database management and tracking, and more.

ICF will also deliver innovative designs for programs targeting the oil and gas and agriculture sectors, and strategic energy management targeting small businesses. 

"We will build on our long-standing relationship with PSO to provide innovative strategic advisory services and to support ongoing efforts to meet ever-changing requirements and maximize portfolio efficiency," said Anne Choate, ICF senior vice president and energy, environment and infrastructure lead. "We are excited to support PSO's delivery of safe, affordable, reliable energy to its customers."

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.

The contract will be awarded to an ICF subsidiary.

About ICF
ICF is a global consulting services company that provides through operating companies 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 contract awarded to ICF by PSO?

ICF was awarded a multimillion-dollar contract to manage and implement energy efficiency programs for Public Service Company of Oklahoma.

How will ICF support PSO's energy programs?

ICF will provide program design, management, customer care, and tracking services for both commercial and residential energy efficiency portfolios.

What experience does ICF have in energy efficiency?

ICF has over three decades of experience in developing demand-side management and energy efficiency programs.

What sectors will ICF target under the new contract?

ICF will focus on the oil, gas, and agriculture sectors, in addition to small businesses for strategic energy management.

When was the contract awarded to ICF?

The contract was awarded on February 17, 2022.