Energy storage company in partnership with Madison residents

Posted Sept. 19, 2011, at 1:52 p.m.

MADISON, Maine — Residents in this Somerset County town now have the option of heating their homes and businesses at a price equivalent to approximately $2.20 per gallon of home heating oil thanks to a new partnership with Saco-based Thermal Energy Storage of Maine.

The partnership is effective through December 2013.

Under the partnership, which also is being negotiated in other communities in Maine, Thermal Energy Storage of Maine, LLC, is providing Steffes Corp. electric thermal storage heating units; Madison Electric Works is offering a special, off-peak delivery rate for electricity delivered by NextEra Energy Resources Power Marketing LLC; Franklin-Somerset Federal Credit Union is offering an Energy Improvement Loan applicable to ETS technology; and Campbell’s Building Supply will sell and arrange the installation of ETS units for residents and businesses.

“With one phone call, residents and businesses in Madison can choose ETS and lock-in at the equivalent of $2.20 per gallon of heating oil through December 2013 — instead of paying $3.50-$3.66 per gallon for this winter alone,” said Thermal Energy Storage of Maine CEO Adam Cote. “We are proud to be working with Madison Electric Works and local Madison businesses committed to helping their customers and neighbors save on high heating costs through this partnership.”

“Thermal storage heating technology is a proven, straightforward way that Maine can immediately begin to end its reliance on costly foreign oil for heating,” said TESM founder Sam Zaitlin. “Inexpensive, off-peak electricity — from any source — stored as heat and released as needed via well-established technology. It is a win-win-win for consumers, utilities and the environment.”

Superintendent of Madison Electric Works Calvin Ames also is happy with the deal.

“Our board of directors voted to partner with Thermal Energy Storage of Maine and offer an inexpensive, off-peak energy rate for ETS heating units because it can save our customers many hundreds of dollars a year in heating costs,” he said.

The Steffes supplemental room heating ETS units being offered in Madison can reduce overall home or business oil consumption by 60 percent or more, according to the press release.

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