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BOSTON, MA, September 6, 2007 – EnerNOC, Inc. (NASDAQ: ENOC), a leading developer and provider of clean and intelligent energy solutions, announced today that it has entered into an agreement with Tampa Electric Company (TEC), the principal subsidiary of TECO Energy, Inc. (NYSE: TE), to deliver 25 MW of demand response capacity. This development marks EnerNOC’s fifth utility agreement signed in 2007, and follows the approval of the agreement with Public Service Company of New Mexico by the New Mexico Public Regulatory Commission last week.
The four-year agreement with TEC enables EnerNOC to provide a turnkey, full-service demand response program that includes program design, customer recruitment and retention, site enablement, event dispatch and management, reconciliation, and verification. Under this program, EnerNOC will aggregate demand response capacity from commercial, institutional, and industrial facilities in TEC’s service territory to meet system needs during periods of peak demand. EnerNOC will execute and manage demand response events from its Network Operations Center, or NOC, in Boston, MA.
Howard Bryant, TEC manager of rates and regulatory affairs, states, “Demand response is an excellent complement to our expanded initiatives in energy efficiency and renewable energy. Working with EnerNOC, a proven industry leader, provides us with an environmentally responsible mechanism to help us manage our system peak demand.” TEC, which serves over 660,000 customers in West Central Florida, experienced an all-time system peak of 4,352 MW on August 20, 2007.
“EnerNOC welcomes the opportunity to pair our demand response expertise and state-of-the-art technology with TEC’s progressive, industry-leading clean energy initiatives,” adds EnerNOC CEO Tim Healy. “Our advanced demand response technology helps utilities better manage peak demand, mitigate wholesale price volatility, and enhance the reliability of their electric power system in a clean, reliable, and economical way.”
This agreement is subject to approval by the Florida Public Service Commission.
About EnerNOC, Inc.
EnerNOC, Inc. is a leading developer and provider of clean and intelligent energy solutions to commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. EnerNOC's technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center, or NOC, to remotely manage and reduce electricity consumption across a network of commercial, institutional, and industrial customer sites and make demand response capacity and energy available to grid operators and utilities on demand. 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 success of the Company’s demand response solutions, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 the Company’s Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission, 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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