$2.2 million awarded to successful bidders
GAHANNA, Ohio, December 5, 2013 — AEP Ohio recently held its first online, eBay-like reverse auction to competitively award financial incentives to pre-qualified solution providers and nonresidential customers with large energy efficiency projects designed to save at least three million kWh per site with a minimum project life of ten years.
Part of AEP Ohio’s new Bid to Win Program, the reverse auction helps industrial and commercial customers realize measurable energy savings leading to reduced energy costs and increased market competitiveness.
$2.2 million dollars was allocated to four successful bidders who committed to energy efficiency projects expected to save a combined 45,224,757 kWhs annually. The auction consisted of two tiers, $750,000 and $350,000. Each tier identified two winners, with the majority of projects expected to be complete by the end of 2014.
Participants competed to see who could get the most energy savings out of each of the four grants. Prequalified customers and solution providers bid on the incentives on a $/kWh saved basis for expected energy efficiency projects, driving the price of energy efficiency down to an average of $0.0486 cents per kWh saved.
Designed to award funds to meet customers’ capital planning timelines, the Bid to Win Program’s competitive nature allows AEP Ohio to increase the cost effectiveness of energy-efficiency projects and spread the dollars further.
More than $7 million in incentives will be available through the Bid to Win Program to solution providers and industrial and commercial customers. Pre-qualified bidders may win up to $1 million in financial incentives to complete major energy efficiency facility upgrades and improvements.
The next Bid to Win is scheduled for January 21, 2014. For more information visit www.aepohio.com/bidtowin or contact the program office 1.855.295.9086 | bidtowin@cbi.com
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Investor-owned utilities in Ohio are required to meet specific energy reduction targets. AEP Ohio’s overall energy efficiency and peak demand response efforts were established to meet the State of Ohio target of reducing electricity consumption 22 percent by the end of 2025. For more information about AEP Ohio’s energy efficiency business programs, visit AEPOhio.com/Solutions.
AEP Ohio provides electricity to nearly 1.5 million customers of major AEP subsidiaries Ohio Power Company in Ohio and Wheeling Power Company in the northern panhandle of West Virginia. AEP Ohio is based in Gahanna, Ohio, and is a unit of American Electric Power. News and information about AEP Ohio can be found at AEPOhio.com.
American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765 kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east and north Texas). AEP’s headquarters are in Columbus, Ohio. News releases and other information about AEP can be found at aep.com.
MEDIA CONTACTS:
AEP Ohio
Fay White
614-883-6679
aepohiomediarelations@aep.com
FrazierHeiby
Hannah Ellson
614-702-2128
hellson@frazierheiby.com