Dispatchable Resource Will Help Florida Utility Reach Conservation Goals
BOSTON, MA, February 28, 2011 – EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of energy management applications for the smart grid, today announced that it has extended its demand response contract with the Tampa Electric Company, the principal subsidiary of TECO Energy, Inc. (NYSE: TE), for five years through 2016. Pursuant to the terms of the agreement, EnerNOC will provide a total of up to 40 megawatts (MW) of firm, dispatchable demand response capacity to the Florida utility through its Networked Demand Response program. This resource will help Tampa Electric meet a portion of its conservation goals while also ensuring reliable and efficient service throughout its territory. This contract is effective immediately and is not subject to additional regulatory approval.
“Over the past several years, Tampa Electric has invested in a number of demand-side management programs to support our commitment to conservation. During that time, we have found commercial and industrial demand response to be a highly reliable resource that is available when we need it,” said Bruce Narzissenfeld, VP Customer Care/Fuels Management at Tampa Electric. “From the beginning of our partnership, the EnerNOC team has offered superior customer service, and this program is very well-liked by our customers. We are pleased to extend our relationship with EnerNOC and provide the opportunity for more businesses and institutions to participate.”
“Tampa Electric is one of EnerNOC’s longest-standing utility partners, and their commitment to demand response has been stellar. This contract points to Tampa Electric’s confidence in EnerNOC to deliver a cost-effective and reliable resource, and to continue to enable, support, and manage customer participation with the highest level of service,” said Tim Healy, EnerNOC’s Chairman and CEO. “This agreement will enable more businesses and organizations across Tampa Electric’s service territory to support the grid while also reaping the benefits of participation in demand response.”
EnerNOC operates demand response programs in open markets throughout the United States, Canada and the United Kingdom and maintains bilateral agreements with utilities such as the Tennessee Valley Authority, Tucson Electric Power, Salt River Project, Public Service Company of New Mexico, and Xcel Energy. As of December 31, 2010, EnerNOC had more than 5,300 MW under management across 8,600 sites.
EnerNOC unlocks the full value of energy management for our utility and commercial, institutional, and industrial (C&I) customers by reducing real-time demand for electricity, increasing energy efficiency, improving energy supply transparency in competitive markets, and mitigating emissions. We accomplish this by delivering world-class energy management applications including DemandSMART™, comprehensive demand response; EfficiencySMART™, data-driven energy efficiency; SupplySMART™, energy price and risk management; and CarbonSMART™, enterprise carbon management. Our Network Operations Center (NOC) continuously supports these applications across thousands of C&I customer sites throughout the world. Working with more than 100 utilities and grid operators globally, we deliver energy, ancillary services, and carbon mitigation resources that provide cost-effective alternatives to investments in traditional power generation, transmission, and distribution.
Tampa Electric Company is the principal subsidiary of TECO Energy, Inc. (NYSE: TE), an energy-related holding company with regulated utility operations in Florida, including both Tampa Electric and Peoples Gas System. Other subsidiaries include TECO Coal, which owns and operates coal production facilities in Kentucky and Virginia, and TECO Guatemala, which is engaged in electric power generation and energy-related businesses in Guatemala.
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 Company's energy management applications and services and the ability of EnerNOC’s customers to derive benefits from the DemandSMART application and services, 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.
Sarah McAuley, (617) 532.8195,