July 10, 2019
Innovative Agreement executed by NRStor C&I and Grand River Energy to reduce Electricity Cost for Ontario Businesses
Article from Newswire.ca
TORONTO, July 10, 2019 /CNW/ – NRStor C&I L.P. (“NRStor”) and Grand River Energy Solutions Corp. (“GRE”) are pleased to announce a, first-of-its-kind agreement in Ontario, to co-develop, own, and operate behind-the meter energy storage projects at commercial and industrial host facilities.
GRE and NRStor will provide turn-key battery storage solutions to industrial, commercial and agricultural customers, primarily in southern Ontario, to reduce their overall operating costs and improve their competitive positioning within the markets they operate in. This initiative will bring cost savings relief to customers’ electricity bills, by reducing the Global Adjustment charge, coupled with a reduction in greenhouse gas emissions.
The newly executed agreement between NRStor and GRE showcases the natural evolution in the Ontario electricity sector to seek out hybrid solutions between regulated and non-regulated entities. Together they will strive to leverage privately funded Distributed Energy Resources (DER’s) to maximize benefits to all electricity consumers. Although today’s solution is focused on C&I customers, energy storage has untapped potential for many other applications. The next phase in the evolution will be to make the solution available to benefit smaller users of electricity directly, and indirectly through regulated distribution and transmission networks where both parties will seek innovative ways to leverage existing DER’s to provide value to the full spectrum of electricity customers.