EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Chapeau, Inc. d/b/a BluePoint Energy (OTCBB:CPEU) today announced a complete victory for Hawaiian consumers with the favorable ruling in a critical case before the Public Utilities Commission of the State of Hawaii. The ruling and resulting order approves a negotiated settlement by BluePoint and other Intervenors with Hawaiian Electric Company, Inc., Maui Electric Company, Ltd., and Hawaiian Electric Light Company covering all of the Hawaiian Islands with the exception of Kauai, making “standby energy rates” optional for consumers who install cogeneration and other forms of distributed generation power systems. Standby rates are utility rates that a distributed generation customer usually is required to pay to receive power from the utility grid at times when power from its own distributed generation system is unavailable either unexpectedly or for maintenance reasons. These standby charges can be very significant, as they are imposed by the utilities ostensibly to offset the utilities’ costs to maintain power production, transmission and delivery infrastructure sufficient to meet the needs of cogeneration users, even though today’s cogeneration equipment is highly efficient and reliable. Prior to settlement of this case, uncertainty concerning future increases in standby rates in Hawaii posed a potentially cost prohibitive variable for many consumers contemplating alternatives to utility-provided power to meet or augment their energy needs. This settlement substantially mitigates the significant prospective financial impediment of standby rates, thereby making cogeneration and other forms of environmentally responsible distributed energy generation economically viable solutions to the commercial and industrial energy market in the Hawaiian Islands. Under the settlement, all current and new users of cogeneration energy systems will have a choice whether or not to accept standby energy charges. That choice will remain in effect for ten years from the date of the settlement.
Cogeneration, or combined heat and power (CHP), is widely recognized as one of the most efficient, environmentally sensitive and economical forms of energy production available today, particularly for large commercial and industrial energy users, including hotels, condominium complexes, hospitals, manufacturing facilities and large retail stores. BluePoint Energy is an innovative industry leader in providing reliable, cost efficient, environmentally responsible energy solutions through a suite of technologically advanced products incorporating its EnviroGen® Energy Modules and continuously monitored by the Company’s proprietary, robust, multi-layered, Internet and microprocessor-based GenView™ control system.
Concurrent with this ruling by the Hawaiian PUC, the Hawaiian utilities are also collaborating with BluePoint Energy to expand participation in the demand side management programs offered by the utilities through the Public Utilities Commission of the State of Hawaii.
Guy A. Archbold, Chief Executive Officer of BluePoint Energy, commented, “BluePoint Energy’s concentrated efforts to achieve this victory for the Hawaiian Island consumers also allows for BluePoint’s continued devotion to providing the Hawaiian hospitality industry, healthcare industry and other large users of energy with extremely efficient and reliable energy alternatives such as those provided by our state-of-the-art, technology-based, environmentally responsible, ultra clean, combined heat and power solutions incorporating our innovative and proprietary EnviroGen® Energy Modules.”
Archbold concluded, “The settlement of this case will finally give large energy consumers in the Hawaiian Islands an important new choice in addressing the unique challenges the Hawaiian Islands face with respect to accessing reliable and cost efficient energy alternatives. This settlement truly presents a “win-win” for the Hawaiian energy consumer and for Hawaii’s utilities.”
About Chapeau, Inc. d/b/a BluePoint Energy
Chapeau is an energy management company that provides state-of-the-art, technology-based, environmentally responsible, ultra clean, demand response (DR) and combined heat and power (CHP) solutions to commercial and industrial energy users across the majority of public and private industry sectors, including hospitality, retail, healthcare, manufacturing and government. To-date, the Company’s efforts have focused principally on incorporating innovative and proprietary engineering solutions into its D-RAAP™ (Demand Response Asset Aggregation Program) and EnviroGen® Energy Modules, both solutions utilizing Chapeau’s proprietary, robust, multi-layered, Internet and microprocessor-based GenView™ control systems.
The foregoing is news relating to Chapeau, Inc. d/b/a BluePoint Energy, Inc. (the “Company”) and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company or its management, including without limitation, Chapeau, Inc. d/b/a BluePoint Energy, Inc. (as defined herein) and/or the Company’s other subsidiaries, are intended to identify such forward-looking statements. The Company’s actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For a discussion of additional factors that may affect actual results, investors or interested parties should refer to the Company’s filings with the Securities and Exchange Commission; in particular, its annual report on Form 10-K, most current 10Q and other filings as may be relevant. This does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.