After stepping down as chairman of the Federal Energy Regulatory Commission (FERC), Jon Wellinghoff has joined the kWantera board of directors, his first board since leaving the FERC.
kWantera is a Pittsburgh-based company that uses advanced predictive analytics and machine learning to identify the optimal price, time and location at which to buy, sell or consume power in deregulated markets across North America and the world.
“I see my role as a kWantera evangelist,” Wellinghoff says. “We want to get this technology out into the energy industry. We can help translate, for instance, for the average wind farm developer who may not understand how to use the tools to help him maximize the profits from his assets.”
kWantera helps energy retailers and renewable energy market participants like wind, solar and even biomass energy providers increase their revenue and profits in ways that many simply did not have the staff, time and expertise to do before.
“kWantera gives our clients the opportunity to reduce the cost of energy and participate directly in the energy markets, resulting in a better price,” explains kWantera CEO Mark DeSantis.
Wellinghoff says working with kWantera will allow him to further his goals of working toward a cleaner power grid. During his FERC tenure, Wellinghoff worked to make the U.S. power grid cleaner and more efficient, integrating emerging resources such as renewable energy and demand response, including energy efficiency and local storage systems such as those in plug-in hybrid and all electric vehicles.
“Energy sellers will have fuller access to their revenue streams, and that’s really what’s been holding back alternate energy sources. kWantera’s tools will provide them with valuable insight they’re not getting now,” Wellinghoff says.
With the recent Paris accords, the extension of the Investment Tax Credit (ITC) and the Supreme Court ruling upholding FERC jurisdiction over demand response, Wellinghoff says this is an exciting time to be part of the energy sector. “All these things are coming together, and there are great opportunities for clean energy,” he says. “kWantera’s tools need to be distributed to renewables developers.”