Itron Extends Contract to Deliver Demand Response Program in Maryland
Itron, Inc. (NASDAQ: ITRI) has signed a two-year contract extension with Southern Maryland Electric Cooperative (SMECO), continuing to provide a pay-for-performance demand response solution as part of SMECO’s CoolSentry load management program. This collaboration, ongoing since 2008, aims to reduce peak demand and improve cost efficiency for SMECO’s over 169,000 member accounts. Itron's IntelliSOURCE® Enterprise™ software plays a crucial role in managing this program, ensuring reliable energy delivery and optimizing distributed energy resources.
- Two-year contract extension with SMECO enhances ITRI's revenue stability.
- Itron has provided demand response solutions since 2008, showing a long-term partnership.
- The program provides up to 59 megawatts of capacity, supporting SMECO's reliability efforts.
- None.
Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced today that it signed a two-year contract extension with Southern Maryland Electric Cooperative (SMECO), one of the 15 largest electric cooperatives in the United States with more than 169,000 member accounts. Itron will continue to provide SMECO with a fully outsourced and pay-for-performance demand response solution that helps the cooperative ensure reliable power and lower rates for its members as part of SMECO’s CoolSentry load management program.
Since 2008, Itron has collaborated with SMECO to administer the CoolSentry program, which enables the utility to reduce peak demand. Itron’s cost-effective demand response solution increases reliability and lowers costs to SMECO’s residential and commercial & industrial (C&I) members. As a fully outsourced solution, Itron recruits customers into the program, installs the necessary load control equipment and operates the program using Itron’s IntelliSOURCE® Enterprise™ cloud-based software. Itron IntelliSOURCE Enterprise software is the foundation for CoolSentry as it automates every phase of the program to ensure seamless and reliable delivery for a consistent customer experience. Over the course of the three-year pay-for-performance agreement, Itron will provide up to 59 megawatts of available capacity to the cooperative.
“We have seen great success with Itron’s demand response solution over the last 13 years and look forward to continuing to provide energy savings to our members,” said Jeff Shaw, vice president of distributed energy resources and sustainability at SMECO. “Our SMECO CoolSentry Load Management program also plays a critical role in averting energy shortages in our community during periods of high demand.”
“At Itron, we are committed to optimizing the benefits of distributed energy resources and their impact on the grid,” said Don Reeves, senior vice president of Outcomes at Itron. “Our continued collaboration with SMECO to provide a demand response solution will ensure reliable and affordable service to all of their members in Southern Maryland.”
IntelliSOURCE is a proven turnkey distributed energy resource management (DERM) solution used to address peak capacity, load management and non-wires alternative use cases for residential and C&I markets. IntelliSOURCE manages 1.1 GW with over 3 million installed devices. IntelliSOURCE is extensible beyond load control to optimize the grid for distributed energy resources, such as electric vehicles, rooftop solar and behind-the-meter battery storage.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
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