Posted February 08, 2018 06:07:33Energy assistance for energy-related purchases in Devon Energy’s Energy Assistance Program is up by almost 7% year-over-year.
The company says the boost to the program will help meet its long-term goals for energy efficiency and renewable energy.
The increase comes in addition to an increase in cash balances.
Devon Energy is a utility that is a part of the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy.
The company says it plans to expand the Energy Assistance Programs to cover more customers in the next six months.
The increase in its Cash Balance program is the result of a $500 million incentive package from the Energy Efficiency Act.
Energy assistance is a federal program that provides support to individuals and businesses who are affected by the adverse effects of natural disasters and emergencies.
In February, the Energy Department announced the first of two grants totaling $4.8 billion for the purchase of fuel efficiency and other energy efficiency improvements for businesses and households.