ARLINGTON, Va., May 14 /PRNewswire-FirstCall/ -- Pepco Energy Services, a subsidiary of Pepco Holdings, Inc. and a leader in energy savings performance contracting, has been selected to implement a comprehensive energy performance contract program for The Pennsylvania State University (PSU) at its University Park campus.
The 10-year contract calls for Pepco Energy Services to provide energy conservation measures to PSU's Chemistry Building located on its University Park campus. As part of the performance contract, Pepco Energy Services will install exhaust air heat recovery and variable air volume controls, stack variable geometry discharge dampers and controls upgrades for the air handling units and will guarantee the savings. With guaranteed annual energy savings exceeding $1 million per year, this project will save PSU more than $14M over the life of the contract. Construction will begin this year, and the project is expected to be completed in early 2009.
Laura Miller, Senior Penn State Energy Engineer points out that, "our Guaranteed Energy Savings Program (GESP) projects make up almost half (46%) of all our energy reduction efforts. The University looks forward to this important partnership with Pepco Energy Services and the many environmental and economic results that will be generated. Penn State is firmly committed to energy efficiency and will continue to play a leadership role in environmental stewardship."
"Pepco Energy Services is excited to be providing Penn State with a project that not only saves energy and improves the student work environment, but also has a positive green impact," stated John Huffman, President and Chief Operating Officer of Pepco Energy Services. "This project saves the campus electricity, steam and chilled water, and it will have the equivalent environmental effect of preventing the release of more than 3 million pounds of CO2 from the earth's atmosphere."
Since 1995, Pepco Energy Services has developed, implemented and financed over $600 million of energy savings performance contracts for more than 250 customers. Accredited by the National Association of Energy Service Companies (NAESCO), Pepco Energy Services has completed energy savings performance contracts for numerous colleges and universities, including Pennsylvania State University-Altoona, Salisbury University, Catawba College, Western Piedmont Community College, and St. Andrews Presbyterian College.
About Pepco Energy Services
Pepco Energy Services, Inc., a wholly owned subsidiary of Pepco Holdings, Inc. , is a leader in providing commercial, institutional, government and industrial customers with competitive electricity and natural gas supply and energy efficiency services. Visit http://www.pepcoenergy.com/ for more information.
Pepco Energy Services, Inc. is not the same company as Potomac Electric Power Company, and prices and services of Pepco Energy Services, Inc. are not set by the Public Service Commission.
Information contained in this news release may include forward-looking statements which should be considered in light of the risks inherent in the business of Pepco Holdings, Inc. and its subsidiaries, as discussed in public documents filed with the Securities and Exchange Commission.
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