Demand Management solution that enables 300 megawatts of clean energy capacity by 2010
HOUSTON, April 18, 2007 -- Cooper Power Systems, a division of Cooper Industries, Ltd. (NYSE: CBE), announced today that it has been selected by Pacific Gas and Electric Company (PG&E) to provide a system for peak demand reduction designed for PG&E’s residential and small commercial customers.
The Cannon Demand Management solution, which is part of Cooper’s Energy Automation Solutions (EAS) group, will enable PG&E to gain at least five megawatts of clean energy capacity by June 15, 2007 and can be expanded to ultimately provide more than 300 megawatts of clean energy capacity by 2010 subject to approval by the California Public Utilities Commission (CPUC). Cooper expects the project will represent between $28 million and $40 million in revenue over the period 2007-2010 if expanded to full capacity.
Cooper Power Systems’ EAS group is providing PG&E a solution comprised of the Yukonïƒ’ operating software platform, along with smart communicating thermostats and control switches. Utilizing a wireless communication network, the system will reduce electrical demand at thousands of air conditioning units during times of maximum demand, thereby enhancing grid reliability and reducing brownouts and rolling blackouts.
“Cooper is committed to providing world-class technology solutions to help our utility customers increase productivity and reduce the cost of delivering electrical power,” said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. “With the Cannon Demand Management solution, we enable PG&E to build a system that will add the equivalent of an entire power plant’s worth of capacity when they need it most – without the cost of building a power plant.”
Cooper announced the formation of the EAS group in February to meet growing demand for comprehensive automation technologies and expertise that help utility customers increase productivity, improve system reliability, and reduce costs. The group combines the capabilities of recently acquired Cannon Technologies, Inc. and Cybectec, Inc. with Cooper Power Systems’ existing automation products and services.
Today’s announcement is one of a series of recent wins for the Cannon Demand Management solution, including the six largest utilities in the province of Ontario.
About Cooper Power Systems
Cooper Power Systems, Inc., with revenues of approximately $1 billion, is a division of Cooper Industries, Ltd. (NYSE: CBE). Cooper Power Systems is a global manufacturer of world-class power delivery and reliability solutions for the electrical and industrial markets. Through its Energy Automations Solutions group, it is also a leading provider of software, communications and integration solutions that enable customers to increase productivity, improve system reliability, and reduce costs. For more information, go to www.cooperpower.com, www.cannontech.com or www.cybectec.com.
About Cooper Industries
Cooper Industries, Ltd. is a global manufacturer with 2006 revenues of $5.2 billion, approximately 85 percent of which are from electrical products. Incorporated in Bermuda with administrative headquarters in Houston, Cooper employs approximately 31,000 people and operates eight divisions: Cooper B-Line, Cooper Bussmann, Cooper Crouse-Hinds, Cooper Lighting, Cooper Menvier, Cooper Power Systems, Cooper Wiring Devices and Cooper Tools Group. Cooper Connection provides a common marketing and selling platform for Cooper’s sales to electrical distributors. For more information, visit the website at www.cooperindustries.com.
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