The Energy Authority (TEA), the strategic partner for public power, is pleased to announce its expansion in the California ISO through its services to the University of California (UC) system.
(SEATTLE, WA - Sept 12. 2014) Earlier this year, UC became a registered Electric Service Provider (ESP) with the California Public Utilities Commission, enabling it to purchase electricity directly from the wholesale market. Beginning January first of 2015, TEA will be the university's scheduling coordinator in the CAISO market and will provide comprehensive portfolio management services that include load forecasting, commercial modeling, supply management, renewable energy credit support, and both real-time and forward trading. The university plans to supply electricity to the participating direct-access campuses which include: UC Irvine and its medical center, UC Merced, UC San Diego and its medical center, UC San Francisco and its medical center, and UC Santa Cruz among others.
"We are very pleased to embark on this endeavor with the University of California. TEA's proven ISO/RTO expertise and technology have given public power utilities an advantage across the nation as they seek to become more economically and environmentally efficient. Public power has a robust presence in the CAISO market, and TEA is well positioned to help unique energy providers, like the UC system, to optimize their resources as they serve their campuses in California," said Joanie Teofilo, President & CEO of The Energy Authority.
George Getgen, Director of Energy and Facilities Management Services at the University of California, Office of the President, further emphasized, "The university's goal of achieving carbon-neutrality and controlling its energy future during a period of uncharted and changing energy regulations made TEA the ideal public partner as we embark on this important endeavor. The university has been impressed with TEA's market knowledge, staff, and the systems TEA uses-these qualities will help UC meet its goal of cost transparency."
These new energy practices will help UC meet its goal of becoming the first major research university system to achieve carbon neutrality by 2025, the key milestone in UC President Napolitano's sustainability initiative launched in the fall of 2013. In addition to wholesale procurement, the university plans to invest in alternative energy sources, expand existing renewable energy sources on its campuses, use biogas to address campus emissions from natural gas consumption and develop a program to finance on-campus carbon reduction initiatives under California's cap-and-trade program.
TEA is the strategic partner of choice for public power. Through the customized application of portfolio management, ISO/RTO trading, bilateral power trading, power supply management, and natural gas trading services, TEA is currently collaborating with over 40 public power utilities nationwide to help them optimize the value of their generation and load portfolio in wholesale energy markets in a manner that is consistent with each utility's unique risk tolerances. Established in 1997, TEA is headquartered in Jacksonville, Florida, with additional offices in Seattle (Bellevue), Washington. To learn more, visit www.teainc.org.
The University of California educates more than 233,000 students and includes more than 190,000 faculty and staff at its 10 campuses, five medical centers and three national laboratories. For almost 150 years, UC has served as the premier public research university system in the world, rooted in its mission of teaching, research and public service.
Contact: Jessica Olberding
Communications Coordinator,The Energy Authority
Telephone: (904) 360-1381E-mail: email@example.com
University of California, Office of the President
Media Contact: 510-987-9200