Metrus Announces Expansion
of Work with National Grid
Two states added to scope of work
April 25, 2019
Metrus announced today that it is expanding its efficiency-as-a-service offering with National Grid to include work in Massachusetts and Rhode Island. Metrus’ Efficiency Services Agreement (ESA) will help National Grid’s large commercial & industrial customers in New England address and implement comprehensive energy efficiency upgrades.
ESAs are a pay-for-performance financing solution that delivers efficiency upgrades to customers with no upfront capital outlay. Metrus and National Grid began working together in May of 2018 in New York State, targeting over $50 million of investment in integrated efficiency upgrade projects. They have been jointly pursuing the identification, development and financing of energy efficiency projects for large end-users of electricity and natural gas.
“Our growing base of work with National Grid reflects the increasing importance of third-party financing as way to rapidly scale energy efficiency investments,” said Bob Hinkle, CEO, Metrus. “Our ESA allows National Grid to be more versatile in its offerings to its large commercial & industrial customers and to treat energy efficiency as a resource.”
Between its upstate New York, Massachusetts and Rhode Island territories, National Grid serves roughly 3.5 million electricity customers and 3.6 million gas customers. It delivers 30 TWh of electricity to customers annually across all U.S. service territories, while also delivering 14 billion cubic meters of gas to customers annually across all U.S. service territories.
About National Grid
National Grid (LSE: NG; NYSE: NGG) is an electricity, natural gas, and clean energy delivery company that supplies the energy for more than 20 million people through its networks in New York, Massachusetts, and Rhode Island. It is the largest distributor of natural gas in the Northeast. National Grid also operates the systems that deliver gas and electricity across Great Britain.
National Grid is transforming its electricity and natural gas networks to support the 21st century digital economy with smarter, cleaner, and more resilient energy solutions. Read more about the innovative projects happening across our footprint in The Democratization of Energy, an eBook written by National Grid’s US president, Dean Seavers.