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VEIC and AMP Execute New Efficiency Smart Contract

Jul 18, 2013

American Municipal Power, Inc. (AMP) and the Vermont Energy Investment Corporation (VEIC) have executed a contract that will extend the operation of Efficiency Smart – AMP’s successful energy efficiency program – beyond its initial three-year contract term. The new contract will run from January 2014 through December 2016.

Launched in January 2011, Efficiency Smart provides a broad range of energy efficiency services for AMP member utilities. Its goal is to encourage residential, business and industrial customers to adopt cost-effective energy efficiency services that provide reliable, verifiable cost savings. VEIC was contracted to create and implement the initial program, which expires at the end of 2013. Forty-nine AMP member communities in Ohio, Pennsylvania and Michigan currently participate in Efficiency Smart.

The original three-year service period, valued at approximately $27 million, was designed to save participants 81,000 megawatt-hours (MWh) of energy by the end of 2013. Efficiency Smart surpassed this savings target in March of this year, and is now focused on achieving individual savings targets for each of its participants. To date, 34 participating communities have reached at least 70 percent of their energy savings goal for the first contract period, and of these communities, 22 have already exceeded 100 percent of their savings target.

“VEIC is excited to continue our strong partnership with AMP and the member utilities of Efficiency Smart,” said VEIC Executive Director Scott Johnstone. “With the continuation of Efficiency Smart, businesses and homeowners will continue to have opportunities to save money and energy, while also supporting local job creation and economic development. This successful partnership is a national model in providing energy efficiency services for municipal utility customers.”

More information about Efficiency Smart can be found at www.efficiencysmart.org.

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