BOSTON, MA, August 25, 2009 – EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of clean and intelligent energy solutions, today announced that the California Public Utilities Commission (CPUC) has approved a 110 megawatt demand response contract between EnerNOC and Southern California Edison (SCE). The contract, which was originally announced in June 2008, is effective through 2012.
EnerNOC will supply SCE with up to 110 megawatts of demand response capacity in SCE’s approximately 50,000 square-mile service territory. Capacity under an existing 40 megawatt contract, which expired concurrently with the CPUC approval of the new contract, will be enrolled under the new contract, resulting in a net addition of 70 megawatts of contracted capacity between the parties.
“EnerNOC demand response has proven to be a valuable part of our portfolio mix, and the new contract reflects our commitment to meeting our system needs in a clean, reliable, and cost-effective manner,” said Lawrence M. Oliva, Director of Tariff Programs & Services, Southern California Edison. “In addition, demand response enables our customers to participate more actively in energy markets and earn money for their willingness to curtail at times of peak demand, which helps improve overall satisfaction.”
For example, Oxnard, CA-based Mission Produce receives annual payments of approximately $25,000 for their participation in the program, but the benefits are not simply financial. “Our people know about
EnerNOC and SCE’s demand response program, and why we’re participating in it,” says Jake Nixon, Process Improvement and Project Manager. “They’re really supportive and know that we’re doing it for all the right reasons—not only because it makes sense financially, but also because it’s good for our community.”
“The CPUC's decision reflects the important role that demand response can play in reducing peak demand in SCE's service territory,” said Tim Healy, EnerNOC’s chairman and CEO. “Adding more demand response resources to the state of California further strengthens the State’s commitment to clean, cost-effective, and reliable energy resources. Along with energy efficiency, demand response is the top priority of the California Energy Action Plan’s ‘loading order’.”
During periods of peak demand, SCE will signal EnerNOC to initiate demand response reductions across a network of commercial, institutional, and industrial sites. During a demand response event, EnerNOC monitors performance in real-time from its Network Operations Center to ensure reduction targets are being met.
EnerNOC, Inc. is a leading provider of clean and intelligent energy solutions, which include demand response services, energy efficiency, or monitoring-based commissioning, services, energy procurement services and emissions tracking and trading services. These solutions help optimize the balance of electric supply and demand, provide cost-efficient alternatives to traditional power generation, transmission and distribution resources, and drive significant cost-savings for our customers. The Company uses its Network Operations Center, or NOC, and PowerTrak enterprise software platform to remotely manage and reduce electricity consumption across a growing network of commercial, institutional, and industrial customer sites, making demand response capacity available to grid operators and utilities on demand while helping end-users of electricity achieve energy savings, environmental benefits and improved financial results.
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 future growth and success of the EnerNOC's demand response and energy management solutions and the ability of EnerNOC’s customers to derive benefits from such 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 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, EnerNOC’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.