Metrus and National Grid
Join Forces to Pursue New
York Efficiency Projects
The Metrus-National Grid initiative will target $50 Million investment in efficiency upgrades
San Francisco – (May 22, 2018)
Metrus Energy has announced an innovative initiative with National Grid that is targeting over $50 million of investment in integrated efficiency upgrade projects. Utilizing Metrus’ Efficiency Services Agreement (ESA), Metrus and National Grid will jointly pursue the identification, development and financing of energy efficiency projects for large end-users of electricity and natural gas.
This offering will initially focus on million dollar and greater projects in large commercial and industrial facilities in National Grid’s diverse upstate New York service territory, which covers 25,000 square miles. It will achieve deep energy savings for large end-users through the implementation of energy efficiency, distributed clean energy resources, and demand response projects under Metrus’ ESA.
Efficiency Service Agreements are a pay-for-performance financing solution that deliver efficiency upgrades to customers with no upfront capital outlay. This new initiative is unique in its integration of third-party financing from the outset of the technical development of efficiency projects. Using an ESA helps customers implement a more comprehensive mix of efficiency upgrades that goes beyond lighting and includes critical energy equipment to deliver deeper energy savings.
“Metrus is thrilled to partner with National Grid to deliver the multifaceted benefits of energy efficiency to customers in New York and beyond,” said Bob Hinkle, President & CEO, Metrus Energy. “This initiative is a perfect fit for Metrus, and aligns with our ongoing mission to deliver efficiency-as-a-service at scale.”
“We believe that Metrus’ efficiency financing solution will offer an opportunity for businesses in upstate New York, whether large or small, urban or rural, to undertake deep energy savings projects that optimize energy as a resource,” said John Isberg, Vice President, Customer Solutions at National Grid. “We are pleased to establish this new offering to help our customers, who are foundations to their local community, save energy and money and reduce greenhouse gas emissions.”
About Metrus Energy
Metrus Energy, Inc. has revolutionized the delivery of energy, water and operational to customers in all key sectors of the economy. Metrus uses its innovative Efficiency Services Agreement (ESA) with customers of all sizes to finance and own efficiency upgrade projects. All efficiency-as-a-service projects are streamlined and simplified by the Metrus financing solution, which provides customers with an open platform to utilize the type of equipment and service provider or contractor that best fits their needs. Metrus pays for all upfront project costs and is paid only when the project achieves actual savings. For more information, visit www.metrusenergy.com or follow Metrus on LinkedIn and Twitter
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.