by Ann Withanee — September 5, 2011—A solution that enables commercial building operators and managers to generate revenue and cut back electricity costs is possible through a newly formed partnership that offers an automated demand response program to commercial customers for their facilities, according to a recent announcement.
The partnership combines the specialties of Vedero Software, a leading provider of software solutions for automated demand response, and Veritas Retail Energy, a supply and demand side energy consulting firm specializing in energy management technology. Their solution for owners and managers of commercial facilities is a demand response program. The solution automates demand response events in conjunction with the customer’s energy provider and meets their sustainability goals.
Demand response programs compensate participants for their willingness to reduce electricity consumption at such times when blackouts threaten because there is a lack of supply to meet demand. Commercial buildings including office complexes, hospitals, schools, universities, and data centers reportedly consume more than 40 percent of the electricity in North America, and the operators and managers of these buildings are seeking demand response programs.
However, cautions the partnership, curtailing electricity must be balanced to accommodate the needs of building occupants. Thus, Veritas Retail Energy is teaming with Vedero to offer a private-labeled version of the Vedero Solution named Veritas Smart Grid, powered by Vedero Software, to their commercial accounts.
The intelligent automation provided by the joint solution automates demand response for clients, allowing the creation of a substantial revenue stream without removing the focus from their core business. Additionally, the platform enables the partnership to further bridge the gap between wholesale power markets and commercial retail electricity prices, decreasing energy costs and mitigating risk for its client companies.
