Resideo and BGE Announce Partnership to Expand Demand Response Program in Maryland

Rhea-AI Summary

Resideo Technologies (NYSE: REZI) and Baltimore Gas and Electric (BGE) have announced a partnership to expand BGE's Connected Rewards program in Maryland, aiming to balance the grid during peak demand periods and provide energy savings to customers. The program allows customers to reduce overall electricity demand during peak times, receiving financial incentives for enrolling their smart thermostats. Resideo's expertise in energy management and grid reliability will help BGE in maintaining grid stability and achieving cost savings for customers.

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• Partnership between Resideo and BGE aims to balance the grid during peak demand periods and deliver energy savings to customers in Maryland.

• Program participants can enroll their smart thermostats and receive financial incentives for both enrolling and remaining enrolled.

• Resideo's distributed energy resources management platform is utilized by nearly 300 utilities nationwide, providing grid reliability and energy-efficiency programs through various smart devices.

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• None.

Partnership will balance the grid during peak demand periods and deliver energy savings to customers in Maryland

SCOTTSDALE, Ariz., April 30, 2024 /PRNewswire/ -- Resideo Technologies (NYSE: REZI), a leading global provider of solutions for home comfort, energy management, security, and safety, and Baltimore Gas and Electric (BGE), the largest electric and natural gas utility company in Maryland, today announced a new partnership to expand BGE's Connected Rewards℠ program, allowing more customers to play an important role in proactively balancing the grid by reducing the overall demand for electricity during periods of peak usage.

Every day, over one million BGE customers use electricity to power their day. Occasionally, the demand for electricity is exceptionally high which may lead to higher energy costs. Resideo and BGE will work together to predict, identify and proactively react to peak demand events and optimize energy use, all while maintaining customer comfort.

"We know that BGE is committed to maintaining grid reliability and avoiding service interruptions, and we are proud that the company has selected Resideo to administer the Connected Rewards program moving forward," said Dave Oberholzer, General Manager, Resideo Grid Services. "Resideo has the history, energy science expertise and partnerships with connected device manufacturers to help BGE promote grid reliability, boosted efficiency and cost savings for customers."

Program participants can enroll their smart thermostats and receive financial incentives for both enrolling and remaining enrolled. The partnership with Resideo will provide BGE with access to additional thermostats across central Maryland, enabling greater load distribution and peak demand reduction.

"BGE's partnership with Resideo will continue to evolve load management programs that will allow all BGE customers to contribute to ensuring reliable electricity in central Maryland," said Divesh Gupta, Director of Customer Solutions for BGE. "We appreciate that Resideo has the grid expertise to deliver an intelligent load management strategy that will assist in BGE's commitment to grid reliability along with a seamless customer experience that provides comfort while shifting energy load."

Resideo's distributed energy resources management platform is utilized by nearly 300 utilities nationwide, allowing customers to enroll their smart devices into demand response and energy-efficiency programs through a single interface across multiple connected solutions such as smart thermostats, battery storage, and water heaters. Resideo has harnessed the power of machine learnings through proprietary algorithms and load shaping technology to help deliver grid reliability, physical market hedging, boosted efficiency, and enhanced grid solutions for the whole home.

"With legislation, tax incentives and energy goals continuing to push for more electric vehicles and appliances, electricity use will continue to rise, making demand response programming more important than ever," says Oberholzer. "We look forward to growing this program with BGE as needs and demand continue to evolve well into the future."

To learn more about Connected Rewards program participation, visit https://bgesavings.com/connectedrewards/.

About Resideo
Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety and security solutions to over 150 million homes globally. Resideo's trusted First Alert^® brand offers smoke alarms, carbon monoxide alarms, fire extinguishers, escape ladders and water leak detection solutions. With proven expertise for more than a century, the company's Honeywell Home smart thermostats help balance indoor air quality and offer energy savings. Through the ADI Global Distribution business, Resideo also is a leading wholesale distributor of low-voltage security and life safety products for commercial and residential markets. For more information about Resideo, visit FirstAlert.com, HoneywellHome.com or Resideo.com.

About Resideo Grid Services
Resideo Grid Services is a leader in the energy aggregation market and offers peak demand reduction, automated and behavioral energy efficiency, and time-of-use energy rate cost optimization program management for utilities and energy retailers. Resideo either manages or participates in nearly 300 U.S. utility demand management programs and participates directly in four wholesale energy markets. For more information about Resideo Grid Services, visit Resideo.com/us/en/pro/energy-management.

About BGE
BGE is Maryland's largest natural gas and electric utility, providing safe and reliable energy delivery to more than 1.3 million electric customers and 700,000 natural gas customers in central Maryland. The company was founded in 1816 as the nation's first gas utility and remains headquartered in Baltimore City to this day. BGE is a subsidiary of Exelon Corporation (Nasdaq: EXC), the nation's leading energy utility company. Engage with the latest BGE stories on bgenow.com and connect with BGE on Facebook, Twitter, Instagram, and YouTube. 

EmPOWER Maryland programs are funded by a charge on your energy bill. EmPOWER programs can help you reduce your energy consumption and save you money. To learn more about EmPOWER and how you can participate, go to BGESmartEnergy.com.

Connected Rewards℠ is a service mark of Baltimore Gas and Electric Company. All rights reserved.

Media Contact:
Sarah Reckard | Resideo Global Communications Leader
sarah.reckard@resideo.com 

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SOURCE Resideo Technologies, Inc.

FAQ

What is the purpose of the partnership between Resideo and BGE?

The partnership aims to expand BGE's Connected Rewards program in Maryland to balance the grid during peak demand periods and provide energy savings to customers.

How can customers participate in the program?

Customers can enroll their smart thermostats in the program and receive financial incentives for enrolling and remaining enrolled.

Where can one learn more about the Connected Rewards program?

To learn more about program participation, visit https://bgesavings.com/connectedrewards/.