ConEdison Solutions will expand its retail energy business to commercial and industrial customers in California and Ohio in 2013 or 2014 and will ultimately be looking at the residential markets in those states, as well.
The size of the markets and their interest in energy retailers make both states attractive, a spokesperson for ConEdison Solutions told Energy Manager Today.
The company provides electric commodity supplies to about 300,000 residential, commercial and industrial customers in several states in New England, New York, Texas and PJM (the old Pennsylvania-New Jersey-Maryland grid). The percentage of ConEdison Solutions’ load that represents the commercial and industrial side of the business is approximately 85 percent, said the spokesperson.
ConEdison Solutions doesn’t own any utility generation but uses its sister company, ConEdison Energy, as a wholesaler to purchase energy for it in all of its markets.
Jorge Lopez, CEO of ConEdison Solutions, told Reuters the retail commodities business may slow a bit, but he predicts more opportunities in the company’s energy services business, where it already operates in more than 40 states nationwide. The company offers performance contracts allowing customers to upgrade their energy systems without an upfront capital investment. Lopez told Reuters there is a huge opportunity in energy services but also a lot of competition vying for the business.
Energy services firms are among the companies likely to benefit from President Obama’s focus on climate-change and energy efficiency.