A Silver Spring-based renewable energy provider ended operations Friday, blaming the shutdown on this winter’s extreme weather, reports the Baltimore Business Journal.
Clean Currents co-founders Gary Skulnik and Charles Segerman wrote on the company’s blog “that the recent extreme weather, which sent the wholesale electricity market into unchartered territories, has fatally compromised our ability to continue to serve customers. We are extremely saddened to share this news with you.”
The company, which specialized in wind energy, had defaulted on payments to its supplier, electricity grid operator PJM Interconnection, The Baltimore Sun reported.
The company’s 6,000 residential and 2,000 commercial customers will not see interruptions in service, Skulnik told the Sun. Customers were returned to their utility service effective immediately and will see the change reflected on one of the next two bills.
In 2011, the company received a $500,000 grant from the Montgomery County Department of Economic Development to expand its operations, the Business Journal said. The company had agreed to keep its headquarters in Montgomery through 2016 as part of the deal.