Press Releases
Sears Holdings Partners with ConsumerPowerline to Implement Energy Management Programs in Connecticut StoresStatewide Benefits Seen as 9 Retail Locations Reduce Peak Load by 12% Under "Truly Green Demand Response" Programs
CONNECTICUT - June 06, 2007 - Sears Holdings Corporation (Nasdaq: SHLD), the nation's third largest broadline retailer, has partnered with ConsumerPowerline, one of the nation's leading strategic energy asset management firms, to implement innovative energy management strategies to support the efficiency of the Connecticut electric grid and reduce the likelihood of blackouts in the state.
To help lessen the stress of peak energy demand within Connecticut, which has lead to selective blackouts and brownouts in summers past due to an overtaxed power grid, ConsumerPowerline (CPLN) worked with the Connecticut Retail Merchants Association (CRMA) to identify large businesses focused on programs geared toward promoting greater energy efficiency. Sears Holdings, which has nine retail stores in Connecticut eligible to take advantage of strategic energy management techniques, recognized the opportunity to reduce energy usage and more efficiently manage its energy resources, and partnered with ConsumerPowerline to undertake an in-depth energy audit to implement a store-by-store energy curtailment plan.
As part of the curtailment plan, three Sears locations and six Kmart locations will actively reduce their energy usage during times of peak demand, thereby contributing to greater reliability of Connecticut's electricity supply. This process of managing and curtailing energy usage when the state's supply is short, called "demand response," will make available a significant amount of clean energy that can be pumped back into the Connecticut power grid in as little as 30 minutes-providing a real time solution for electricity supply emergencies. Participation in these programs, which build in financial incentives for re-supplying the energy grid, not only promotes a sustainable and reliable electricity distribution system, but will also help prevent major power outages. Kmart and Sears, by working with ConsumerPowerline, will in turn, transform its energy assets into a new source of recurring revenue.
Bryan Porcaro, energy manager for Sears Holdings, said "We are committed to supporting the strength and reliability of the Connecticut electricity grid and are pleased that we can play a proactive role in bringing needed resources to the market in an efficient and fiscally responsible manner. Through the use of our own technology, we'll be able to participate in this program and still provide our customers with a comfortable shopping experience."
It's estimated that upwards of 540 kilowatts of power could be shed amongst the nine stores, representing 12% of the entire energy supply consumed at these facilities, providing enough power to keep the lights burning in nearly 500 homes. Energy will be curtailed within 30 minutes of a demand response notification being issued by The New England Independent Systems Operators (ISO-NE). Stores will reduce energy usage by the specified levels by executing a number of different energy strategies, including modest adjustments to temperature and lighting.
Most notable about this particular demand response program is that Sears and Kmart will be participating in a truly green initiative to curtail energy consumption, which relies on the ability to "shed" load without utilizing distributed generated energy, thereby truly eliminating a significant source of pollution and greenhouse gases. This is in contrast to most of the current demand response programs in Connecticut, which require the use of distributed diesel generators.
"Sears Holdings is showing great leadership in helping to meet the state's energy needs while setting an example for the country by participating in this green demand response initiative," said Tim Phelan, President of the Connecticut Retail Merchants Association, whose organization has been a catalyst for businesses to contribute to demand response efforts in the Constitution State.
Mike Gordon, founder and president of ConsumerPowerline said, "Together with the Connecticut Retail Merchants Association, we're proud to be working with such a forward thinking company as Sears Holdings, and to help businesses manage their energy consumption in a socially responsible manner. As businesses see the value in utilizing green demand response programs, we will continue to recognize a great improvement in the overall reliability and integrity of Connecticut's electric grid, while meeting our energy needs in an environmentally sound and sustainable way. The implementation of these green demand response programs and the Connecticut Department of Public Utility Control's recent public support of demand response, are bright lights for the state's energy future."
About ConsumerPowerline
ConsumerPowerline (www.consumerpowerline.com) is full service strategic energy asset management firm with a proven track record of helping its clients, large energy users, uncover hidden market revenues and cost savings opportunities available with their real estate assets. ConsumerPowerline is the largest and most geographically diverse non-utility provider of demand response services in the United States.
ConsumerPowerline was selected for the Inc 500 list for 2006, Deloitte's Technology Fast 500 Award, as well as being the recipient of the Ernst & Young Entrepreneur of the Year Award for Emerging Business. ConsumerPowerline's client list features notable public and private firms including: CB Richard Ellis, Morgan Stanley, Starwood Hotels, Hines Property Management, Forest City Ratner Corporation, Co-op City, Macklowe Properties, RFR Realty, NYU Medical Center, Newmark Properties, Douglas Elliman Property Management, Cooper Square Realty, Wentworth Management and dozens of other substantial end-users of energy.
About Sears Holdings Corporation
Sears Holdings Corporation is the nation's third largest broadline retailer, with approximately $50 billion in annual revenues, and with approximately 3,800 full-line and specialty retail stores in the United States and Canada. Sears Holdings is the leading home appliance retailer as well as a leader in tools, lawn and garden, home electronics and automotive repair and maintenance. Key proprietary brands include Kenmore, Craftsman and DieHard, and a broad apparel offering, including such well-known labels as Lands' End, Jaclyn Smith and Joe Boxer, as well as the Apostrophe and Covington brands. It also has Martha Stewart Everyday products, which are offered exclusively in the U.S. by Kmart and in Canada by Sears Canada. The Company is the nation's largest provider of home services, with more than 13 million service calls made annually. For more information, visit Sears Holdings' website at http://www.searsholdings.com
About Connecticut Retail Merchants Association
CRMA is Connecticut's only statewide business group that represents retailers and only retailers. As the legislative and regulatory process on every level of government becomes more complex and impactful, it is imperative that CRMA's government relations specialists represent retailers. CRMA's members participate in the formulation of the legislative agenda for retailers throughout the State. CRMA makes retailers collective voice heard at the State Capitol. For more information, visit the website at www.crmaonline.com or contact CRMA at (860)527-1044.
PR Contact:
Nina Velasquez
Kwittken & Company
646.747.7161
nvelasquez@kwitco.com