WOODBRIDGE, N.J., Feb. 22, 2012 /PRNewswire/ -- Hess Corporation (NYSE: HES) today announced the launch of Hess Energy Solutions, offering comprehensive energy services for commercial, industrial and institutional customers.
Building on its expertise in energy markets, Hess Energy Solutions delivers integrated solutions that help organizations save money, reduce energy consumption and make well-informed energy decisions, including fuel conversions, proprietary demand response programs, energy asset optimization, energy efficiency and sustainability, and guaranteed cost energy management.
Hess Energy Solutions has several projects under way including a fuel oil-to-natural gas conversion with Lindsay Park Housing Corporation in New York City and an intelligent demand response program with DeSales University in Pennsylvania that will generate incremental revenue while helping to reduce the school's energy costs. There also is a sustainability project to install a solar field that will provide energy to the Hess office in Woodbridge, New Jersey.
"Faced with higher energy prices and concerns about climate change, organizations increasingly want to improve energy efficiency and minimize their cost and impact on the environment," said Bill Hanna, vice president of Hess Energy Solutions. "As a global integrated energy company, Hess has the deep experience and insight to offer customized solutions that will help customers meet their energy goals."
Hess Energy Solutions provides the following services:
- Provides detailed financial analysis and independent engineering to help customers evaluate conversion options
- Conducts energy audits and reduction plans to identify savings opportunities and maximize project incentives and rebates
- Eliminates need for upfront capital expenditures or bank financing through turnkey project management and funding integrated with a natural gas supply agreement
Demand Response Offerings
- Offers two types of demand response:
- Proprietary intelligent demand response that allows customers to bundle demand response with their electricity contract and realize capacity and/or transmission cost savings by shedding or shifting peak electric load
- Traditional Independent System Operator (ISO) demand response, paying customers monthly for agreeing to reduce energy use when power grids experience reliability issues
- Provides customers with access to Hess PowerPort, a real-time monitoring and analytic tool that can help customers better manage energy usage and improve energy efficiency
- Recommends and assists implementation of energy-efficiency improvement projects to lower energy consumption, reduce energy spend and provide greener operations and facilities
- Reduces environmental impacts through renewable resources and reduce greenhouses gases through programs such as solar and biomass
Energy Asset Optimization
- Uses real-time control and monitoring systems to effectively manage energy-consuming and energy-producing assets
- Helps customers maximize value of energy assets and achieve productivity and reliability gains
Guaranteed Cost Energy Management
- Will take responsibility for all energy decisions at a guaranteed cost so that customers can focus on managing their business
About Hess and Hess Energy Solutions
Hess Corporation, with headquarters in New York, is a leading global independent energy company engaged in the exploration for and production of crude oil and natural gas, refining and marketing refined petroleum products, natural gas and electricity, and power generation. Hess is the largest provider of electricity, natural gas and fuel oil to large commercial and industrial customers as well as utilities and other wholesale customers in the 18-state market area in which it operates. Hess Energy Solutions, part of Hess Corporation, delivers comprehensive solutions that help commercial, industrial and institutional customers maximize energy savings and improve operational efficiencies. Solutions include oil-to-gas conversions, customized energy-efficiency improvements, a range of intelligent demand response programs, generation management services, and comprehensive energy cost management.
SOURCE Hess Corporation