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Cooper Power Systems Announces its Cannon Demand Management Solution
Selected by Pacific Gas and Electric Company
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 Yukon® 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. For information contact: Jon Safran
Director, Investor Relations
(713) 209-8610
safran@cooperindustries.com |
