Fortune Data Centers Receives $957,000 Rebate from PG&E as part of Direct Access to Competitive Power Choices

SAN JOSE, Calif., Oct. 4, 2012 /PRNewswire/ -- Fortune Data Centers has received a rebate from Pacific Gas and Electric (PG&E) of $957,000 by participating in Direct Access power service. Direct Access gives eligible utility customers a choice of multiple energy suppliers.

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Fortune received approval for Direct Access by submitting applications to PG&E following a decision from the California Public Utilities Commission (CPUC) to implement Senate Bill 695.  Since becoming a Direct Access customer in January 2011, Fortune has reduced the delivered cost of power to its San Jose facility by 30%. The $957,000 rebate is in addition to the savings already achieved.

In late 2011, the CPUC issued Decision 11-12-018, which changed the method to calculate the Power Charge Indifference Adjustment (PCIA) and Competitive Transition Cost (CTC) for Direct Access customers. The CPUC ordered that the new method become retroactive to April 14, 2011 and that the utilities reimburse their Direct Access customers for their overpayment from that date through June 30, 2012.

"We believe in open markets and the freedom to choose suppliers. This helps our customers, our industry and our community. The lower costs make both Fortune and conducting business in California more competitive—which was the intent of SB 695," said John Sheputis, CEO of Fortune Data Centers.

Sheputis added, "Direct Access has given us a real reduction in power costs. We are proud to pass 100% of these savings on to our tenants. Fortune's San Jose facility is already one of the most efficient merchant data centers in California. Sharing the benefits of reduced power costs via Direct Access furthers our ambition to be an industry leader in efficiency and innovation."

About Fortune Data Centers

Fortune Data Centers (www.fortunedatacenters.com) builds, owns and operates highly efficient and cost-effective wholesale data centers. Fortune's San Jose and Portland facilities meet or exceed the toughest industry standards for data centers in all operational categories of availability, security, connectivity, and physical resilience. Fortune's San Jose data center has maintained 100% reliability with no services outages since it went online in 2009. Fortune is a privately held company, founded in 2006.

SOURCE Fortune Data Centers