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Empire State Building Contract Increases Green Mountain Visibility in Large Commercial/Industrial
Space
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January 7, 2011
Green Mountain Energy's contract to supply the Empire State Building (1/6) is intended to boost the supplier's visibility and credibility with its new target market of larger commercial customers, and is the type of contract facilitated by Green Mountain ownership under NRG Energy, Green Mountain CEO Paul Thomas said yesterday.
The contract, covering 55 million kWh annually, demonstrates the kind of transaction Green Mountain Energy can now support with its backing from NRG Energy. Thomas said that Green Mountain would not have pursued such a large contract a year ago.
In particular, NRG facilitates the collateral and risk management necessary for such a large transaction.
Thomas reported that the RFP for the Empire State Building was not limited to pure renewable power, but Green Mountain Energy's bid using 100% wind RECs was selected over competing offers relying on system power due to its competitive price. The contract shows that renewables can compete against conventional power on cost, Thomas said.
Matters first reported Green Mountain's intention to expand to larger commercial sales on November 4. Thomas said that the visibility of the Empire State Building contract supports Green Mountain's efforts to increase recognition of its brand among larger customers, and build credibility in serving this new market segment.
Thomas said that the contract will also support Green Mountain's continued mass market efforts in New York, where Thomas said most customers are still unaware of their ability to choose an ESCO. Media coverage of the Empire State Building's selection of an alternative supplier will prompt more customers to consider choice, Thomas said.
Aside from expanding its reach to larger customers, Green Mountain is also targeting expansion to new markets in the Northeast, though Thomas had no further comment regarding potential markets at this time.
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