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March 4, 2011
Johnson Controls to Acquire EnergyConnect
Johnson Controls, Inc., a provider of energy efficiency services and other controls for buildings, has agreed to acquire demand response provider EnergyConnect Group, Inc. for a total cash consideration of approximately $32.3 million. The transaction, which is subject to customary closing conditions, is expected to be completed by July.
TriEagle Energy Signs MaST Community Charter School in Philly
TriEagle Energy has signed a two-year electric supply agreement with the MaST Community Charter School in the PECO territory. The agreement was brokered by Metromedia Energy. Metromedia estimates that MaST will save 10% over PECO’s current price to compare
Dominion Retail Appeals ICC ComEd POR Order
Dominion Retail has appealed to the Illinois Appellate Court the Illinois Commerce Commission's orders regarding Commonwealth Edison's Purchase of Receivables program. Specifically, Dominion Retail argues that the 50¢ per bill charge for POR is contrary to statute which requires use of a "discount rate" -- language which Dominion said does not include a fixed charge. Additionally, Dominion Retail is seeking a finding that all of ComEd's upgraded IT costs, of which only a portion applied to POR, were inappropriately assigned solely to POR customers, rather than all distribution customers. The ICC had originally denied rehearing sought by Dominion Retail; however, since that time the Commission has issued an amendatory order and clarifying order on ComEd's POR program, and Dominion Retail concurrently submitted a new rehearing request with the ICC to the extent that, due to the new orders, a court appeal is premature.
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