PHILADELPHIA, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Voltus, Inc. (“Voltus”), the leading virtual power plant operator and distributed energy resource (DER) platform, today announced that its platform will save customers between $98,000 to $279,000 per MW-year in generation and transmission capacity charges in the PJM Interconnection (“PJM”).
Last month, PJM published a nearly tenfold increase in capacity prices year-over-year, driving urgency for customers to actively mitigate these charges. Customers’ consumption during PJM’s system-wide and zonal peak hours in 2024 determine the extent of their electricity bills beginning in June 2025.
In the past, customers’ operational limitations could limit them from fully participating in demand charge avoidance programs. To combat this limitation, Voltus’s platform and “Peak Saver” product algorithms are trained on individual customers’ schedules to optimize peak predictions tailored to their needs - not just a one-size-fits-all approach. By leveraging these algorithms to enable a truly customized approach, Voltus’s peak predictions have the ability to optimize revenue per dispatch for each customer.
“It’s imperative that we do everything within our power to reduce our peak demand charges,” says Randy Groff, Director of Facilities and Energy at Four Seasons Produce. “We’ve been enrolled in Voltus’s Peak Saver program for five years and have successfully saved hundreds of thousands dollars without causing any disruption to our operations. We especially benefit from their platform which delivers accurate predictions and gives us a view into our savings and real-time and post-event dispatch performance.”
“We expect demand charges will continue to be a pain point for customers, due to continued power plant retirements, demand response de-accreditation, load growth, and grid maintenance in PJM,” said Sam Scuilli, Vice President of Sales at Voltus. “The encouraging news is that energy users have more power than they think to reduce these charges without disrupting their operations. Actions taken this summer are the best way to avoid these charges. Given the sharp rise in capacity costs, our existing customers are grateful they have been reducing their capacity tag through Peak Saver participation this summer.”
To learn more about PJM’s capacity auction results, register and join Voltus’s webinar on September 10, 2024 at 3pm ET. To learn more about Voltus’s demand charge avoidance product, Peak Saver, contact info@voltus.co.
About Voltus
Voltus is a leading DER technology platform and virtual power plant operator connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
Media contact
Mona Khaldi
press@voltus.co
