Energy Efficiency Stock Alert: EnerNOC (Nasdaq:ENOC) Signs Demand Response Contract Expansion in Northern California
EnerNOC Utility Solutions(TM) Contract Increased
Category: Investment, Renewable Energy
News about EnerNOC, Inc.
BOSTON - February 5, 2013 (Investorideas.com renewable energy newswire) EnerNOC, Inc. (Nasdaq:ENOC), the world's leading provider of demand response, today announced that it has expanded its demand response presence in Northern California, securing the opportunity to grow its megawatts in the region by over 50 percent through 2015. EnerNOC won the additional megawatts through a competitive bidding process; EnerNOC's share comprised nearly 45 percent of the total megawatts awarded.
"We have a longstanding, successful history helping utilities in California address their demand-side management objectives, while delivering substantial value to their commercial, institutional, and industrial energy users," said Tim Healy, Chairman and CEO of EnerNOC. "The fact that this new contract expands the services we're providing in the region is a testament to the value that demand response provides to the resource mix in Northern California."
EnerNOC already has commercial and industrial energy efficiency contracts in Northern California, allowing additional customers in the region to benefit from an integrated energy management portfolio comprised of both demand response and energy efficiency solutions.
EnerNOC, which provides its Utility Solutions(TM) Implementation and Consulting services to hundreds of utilities, grid operators, and power distributors worldwide, is the largest third-party provider of demand response resources in California. Commercial, institutional, and industrial participants in EnerNOC's demand response network receive access to EnerNOC's DemandSMART(TM) application, which helps improve demand response curtailment, maximize demand response payments, and improve visibility into real-time energy consumption.
This program is administered by Pacific Gas & Electric and funded by California utility customers under the auspices of the California Public Utilities Commission. The contract has received public utility commission approval.
EnerNOC unlocks the full value of energy management for our utility and commercial, institutional, and industrial (C&I) customers by delivering a comprehensive suite of demand-side management services that reduce real-time demand for electricity, increase energy efficiency, improve energy supply transparency in competitive markets, and mitigate emissions. EnerNOC's Utility Solutions(TM) offerings, which include both Implementation and Consulting services, are helping hundreds of utilities and grid operators worldwide meet their demand-side management objectives. EnerNOC serves thousands of commercial, institutional, and industrial customers worldwide through its suite of energy management applications including: DemandSMART(TM), comprehensive demand response; EfficiencySMART(TM), continuous energy savings; and SupplySMART(TM), energy price and risk management. Our Network Operations Center (NOC) offers 24x7x365 customer support. For more information, visit www.enernoc.com.
Safe Harbor Statement
Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to the Company's energy management applications and services, in particular its DemandSMART application, and the ability of EnerNOC to expand the value it brings to its utility and C&I customers, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. In addition, certain of EnerNOC's contracts and expansion of existing contracts may be subject to approval of state or local regulatory agencies. There can be no assurance that such approvals will be obtained on a timely basis or at all. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to under the section "Risk Factors" in EnerNOC's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as other documents that may be filed by EnerNOC from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. EnerNOC is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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