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- Financial Incentives, Insight And Tools From A Leading Total Energy
Provider
- Helps Commercial And Industrial Customers Effectively Manage Their
Power Demand
- Reduces Strain On East Coast Power Grids
WOODBRIDGE, N.J., Feb. 13 /PRNewswire-FirstCall/ -- Hess Corporation (NYSE: HES) today announced the launch of the Hess Demand Response program to commercial and industrial customers.
Through its demand response program, Hess's Energy Marketing division pays customers monthly to commit to reducing electricity usage during times of peak demand when local power grids are under significant stress. The Hess Demand Response program includes in-depth energy audits, installation of metering equipment and access to an online energy monitoring system known as the Hess PowerPort platform. There are no out-of-pocket costs for customers to receive these services from Hess. Regional power pools provide financial incentives to demand response providers for reducing their energy consumption during peak usage periods. The Hess Demand Response program is being launched following a one-year pilot program in 2007.
"We're launching Hess Demand Response as a value-added service for a growing number of customers looking for new ways to save money and manage their energy usage more effectively," said Gene Kutcher, Hess Energy Marketing vice president of sales and marketing. "Demand Response is a way businesses can generate recurring revenue and at the same time help improve the reliability of the power grid."
Hess Demand Response customers receive real-time usage data to make more informed energy decisions and identify energy-savings opportunities in their facilities. Hess engineers work with customers to develop comprehensive energy curtailment plans in the event a utility company requests a short-term reduction in energy consumption. In such events, customers receive an additional payment from Hess.
"Our experience as a total energy provider really sets the Hess Demand Response program apart," Kutcher said. "We have the infrastructure, the customer knowledge and the people in place to make it easy for Hess Demand Response customers to manage their energy better and help increase the reliability of local power grids."
Hess will initially market its demand response program to customers in three markets: the Eastern Pennsylvania-Jersey-Maryland (PJM) Regional Transmission Organization (RTO), the New York Independent System Operator (ISO) and the New England ISO.
About Hess Energy Marketing
Hess is the largest provider of natural gas, fuel oil and electricity to commercial and industrial customers in the 14 states along the East Coast in which it operates, and the third-largest non-utility electricity supplier to commercial and industrial customers in the United States. Hess' Energy Marketing business is supported by extensive assets and regional sales and operations offices located in Cranston, Rhode Island; Syracuse, New York; Woodbridge, New Jersey; Pittsburgh, Pennsylvania; and Charlotte, North Carolina. For more information, please visit www.hessenergy.com.
About Hess Corporation
Hess Corporation (NYSE: HES), with headquarters in New York, is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum, natural gas and electricity products. More information on Hess Corporation is available at www.hess.com.
For more information, contact:
Lewis Goldberg
212-896-1216
lgoldberg@kcsa.com
SOURCE Hess Corporation
Web site: http://www.hessenergy.com
http://www.hess.com