SAIC Awarded $66 Million Contract Amendment by Hawaii Public Utilities Commission

SAIC Energy, Environment & Infrastructure, LLC - 12.13.2011

Science Applications International Corporation (SAIC) [NYSE: SAI] announced today it was awarded the funding for the next two years of its prime contract with the Hawaii Public Utilities Commission (PUC) to continue as the Program Administrator for the Hawaii Energy Efficiency Program, helping Hawaii residents and businesses become more energy efficient. The funding amendment award has a two-year period of performance and value of more than $66 million. The multi-year contract has been executed by SAIC since March 2009, runs through December 31, 2013, and may be extended beyond 2013 for an additional three year period. Since inception of the contract, $105 million in funding has been awarded to SAIC to administer Hawaii’s energy efficiency programs.

Hawaii residents pay among the nation's highest prices for electricity and fuel. The most oil-dependent of the 50 states, Hawaii relies on imported petroleum for about 90 percent of its primary energy. The ratepayer-funded Energy Efficiency Program plays a vital role in reducing Hawaii’s reliance on foreign oil.

In 2009, SAIC successfully transitioned the Hawaii Energy Efficiency Program from the Hawaiian Electric Companies and has redesigned and enhanced administration of the rebate and incentive, education and training, conservation, energy efficiency, and demand side management programs. Over the first two years, the PUC has commended SAIC’s increased cost effectiveness, transparency, and new efforts. An estimated $320 million in future utility costs are projected to be avoided through the incentivized efficiency measures installed during the first two years of SAIC program administration, representing an 875 percent return on the program’s cost to the ratepayer.

Under the contract, SAIC will continue as the Public Benefits Fee Administrator, enabling Hawaii to decrease its dependence on foreign oil, make better use of efficiency measures and improve energy security. SAIC will also continue to administer the Hawaii Energy Efficiency Program, including program operations, outreach, market evaluation, general administration, information technology and transformational infrastructure development initiatives. The program provides critical support for the Hawaii Clean Energy Initiative’s goal of 30 percent reduction in energy use through efficiency by 2030.

“SAIC is proud to expand our services to meet Hawaii's aggressive efficiency goals with our proven efficiency program management techniques,” said JT Grumski, SAIC senior vice president and business unit general manager. “The contract enables SAIC to continue to develop energy efficiency infrastructure initiatives in Hawaii and help improve energy security, increase economic development, and decrease dependence on foreign oil.”

About SAIC

SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy & environment, health and cybersecurity. The company’s approximately 41,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of approximately $11 billion for its fiscal year ended January 31, 2011. For more information, visit www.saic.com. SAIC: From Science to Solutions®

Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in SAIC's Annual Report on Form 10-K for the period ended January 31, 2011, and other such filings that SAIC makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.

 

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