ING Will Use Wind Energy Credits

WINDSOR, CONNECTICUT - ING Group, which is building a new Connecticut headquarters in Windsor, said it will purchase wind energy credits equal to all the projected electricity it will use at its locations throughout the United States.

Initially, the Dutch financial services firm will purchase enough credits to cover power use this year and next. ING will invest about $600,000 in the credits, according to Philip K. Margolis, an ING spokesman in Hartford.

Like most businesses, ING can't obtain its electricity directly from renewable energy sources, such as wind. Instead, it is contracting to purchase 70,000 megawatt hours of wind-energy credits. Each credit represents 1 megawatt-hour of electricity from wind energy sources.

Producers of such energy sell the credits through brokers and the money that is raised helps pay for generating electricity by wind, cutting down on energy production by burning fuels such as coal.

Related News

Investigation reveals power company 'gamed' $100M from Ontario's electricity system

TORONTO - Hydro customers shelled out about $100 million in "inappropriate" payments to a natural gas plant that exploited flaws in how Ontario manages its private electricity generators, according to the Ontario Energy Board.

The company operating the Goreway Power Station in Brampton "gamed" the system for at least three years, according to an investigation by the provincial energy regulator. 

The investigation also delivers stinging criticism of the provincial government's Independent Electricity System Operator (IESO), slamming it for a lack of oversight. The probe by the Ontario Energy Board's market surveillance panel was completed nearly a year ago, but was only made public in November because…

READ MORE
southern-california-edison-faces-lawsuits-over-role-in-california-wildfires

Southern California Edison Faces Lawsuits Over Role in California Wildfires

READ MORE

Bruce Power awards $914 million in manufacturing contracts

READ MORE

powerlines

Data Center Boom Poses a Power Challenge for U.S. Utilities

READ MORE

electricity-prices-in-france-turn-negative

Electricity Prices in France Turn Negative

READ MORE