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About Smart Energy Source LLC
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Smart Energy Source LLC is an energy services partnership formed by Oklahoma State University, C.H. Guernsey & Co., Central Rural Electric Cooperative and the City of Stillwater. The joint venture is paving the way to improved reliability and lower costs through greater operating efficiencies for consumers and the utility industry. It will also harness the research power of OSU in the development of energy services and utility system enhancements for the partner’s use.
Although the venture was officially launched in December 2011, the entities have been working on the process for three years. In 2008, OSU, CREC and the City of Stillwater began talking about ways in which they could work together to:
· Develop partnerships
· Create greater understanding
· Shape policy
Those conversations led to the informal establishment of Smart Energy Source and the entities began looking for a consultant to help write a business plan for the consortium. In 2010, C.H. Guernsey & Co, an engineering firm in Oklahoma City, was hired to help write a business plan for Smart Energy Source. The business plan was to focus on how the partners can:
· Optimize assets
· Leverage resources
· Enable consumer participation
· Enable new products and services
The Smart Energy Source business plan, completed by C.H. Guernsey this summer, includes case studies assessing projects in renewable energy, energy efficiency and grid modernization, and research into potential joint services, such as billing, dispatching, engineering and materials warehousing. The plan also outlines tapping into research talent at OSU in the development of energy innovation to further improve utility planning, operations, reliability and sustainability.
The venture became an official partnership in December 2011, after the governing bodies of each entity signed joint partnership resolutions. A board of directors, with representatives from each partner, will govern Smart Energy Source and consider what initiatives and services the partnership will develop.
The creation of Smart Energy Source LLC highlights how the four entities are proactively seeking novel solutions to future energy challenges that will benefit all consumers involved. The business plan shows the joint venture has potential to keep rates affordable, spur economic growth and improve the quality of life of the region’s utility consumers. Smart Energy Source is working together to Build Our Energy Future by providing affordable solutions, powering our economy and seeking energy innovations.
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