This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

City Of Evanston (Illinois) Selects Verde Energy USA As Retail Electricity Supplier

EVANSTON, Ill., April 9, 2013 /PRNewswire/ -- The City of Evanston, Illinois, and Verde Energy USA ("Verde"), a leading independent retail power supplier and energy solutions provider, jointly announced today that Verde has been selected as the city's electricity supplier, effective August 2013.  As part of its agreement with the city, Verde Energy will also install Ice Bear™ technology – a proven, clean energy storage system – in one of Evanston's municipal buildings.

(Logo: )

Verde, which serves over 70,000 customers in 14 municipalities through aggregation programs, participated in the city's open Request for Proposal process to select an electricity supplier for the city's ongoing electricity aggregation program. The city received multiple bids, and the Verde proposal offered the lowest price.  Under the terms of the agreement with Verde, residents will receive a 100% renewable fixed rate of $0.05192/kWh through August 2014. Residential and small commercial retail customers will have the right to "opt-out" of the aggregation program without penalty or a cancellation fee.

"We recognize that energy prices have been moving up significantly over the last several months.  The selection of Verde, the lowest price bidder, will provide savings to our ratepayers, compared to other available options.  In addition, this partnership offers residents and small businesses a 100% green product.  Our choice of providers underscores our community's recognition of the importance of both cost-effectiveness and energy efficiency, and we look forward to working with Verde to accomplish those goals," said Evanston Mayor Elizabeth Tisdahl.

"We are very pleased to have been selected by Evanston as its energy supplier and, through this agreement, to expand our existing Energy Storage Solutions Program in Illinois.  We look forward to making our energy efficiency solutions available to the residents of Evanston, including demonstrating how our investment in the Ice Bear™ unit will help to achieve energy efficiency, reduce costs, and enhance grid reliability," said Thomas FitzGerald, President and CEO of Verde Energy USA. 

The Ice Bear unit replaces conventional air conditioning condensing units, a component of a typical building cooling system. It shifts air conditioning electrical power demand to off-peak hours by using plain water to make ice at night, when the electric grid is generally unstressed. Then, during a hot summer day, when demand goes up and electric prices may be higher, the melting ice bathes the air conditioner's compressor with cool air so the air conditioning unit uses less energy at a peak demand time to cool the building. The melted water is then recycled through the system and the process begins again the following night. The result is lower energy costs and increased grid reliability. 

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs