RESTON, Va., July 14, 2016 /PRNewswire/ -- Leidos (NYSE: LDOS), an infrastructure, national security and health solutions company, was awarded a single-award, prime contract by the Hawaii Public Utilities Commission (PUC) to administer the Hawaii Energy conservation and efficiency program. The contract has a three-year base period worth $85 million followed by two successive three-year extensions.
Under the new contract, Leidos will continue to oversee design and implementation of a wide range of newly developed and traditional commercial and residential rebate offers, as well as numerous training and educational initiatives for a clean energy future. Leidos has administered the electric ratepayer-funded Hawaii Energy program since 2009. The program serves Hawaii, Honolulu and Maui counties in the state of Hawaii under the direction of the Hawaii PUC. The program was recently recognized as a 2016 Project of the Year by Environmental Leader magazine.
Energy efficiency plays a key part in achieving the state's goal of achieving a 100 percent renewable energy portfolio standard by 2045. The Hawaii Energy program uses a portfolio of financial incentives, education and training opportunities, and collaboration with key community organizations and leaders. In the last six years, energy-saving efforts of program participants have resulted in more than $1 billion in electric bill savings. In the last program year alone, tens of thousands of residents and businesses helped to achieve an estimated $443 million in lifetime electric bill savings or 1.5 billion kWh, equal to eliminating 2.2 million barrels of oil or 1.3 million tons of greenhouse gas emissions.
"Hawaii is a national leader in its energy conservation and efficiency efforts," said Jim Moos, senior vice president for Leidos' Infrastructure, Environment and Security business. "Our energy efficiency experts implementing the Hawaii Energy program will continue to serve as a catalyst to facilitate renewable energy integration and support a 100 percent clean energy future."
About Leidos Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health and infrastructure. The Company's 18,000 employees support vital missions for government and the commercial sector, develop innovative solutions to drive better outcomes and defend our digital and physical infrastructure from 'new world' threats. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $5.09 billion for the twelve months ended Jan. 1, 2016. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in the company's Annual Report on Form 10-K for the period ended January 1, 2016, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.