BOSTON, June 9, 2009 (GLOBE NEWSWIRE) -- Saving money while benefitting the electric grid just became easier for Green Mountain Power customers. EnerNOC, Inc. (Nasdaq:ENOC), a leading developer and provider of clean and intelligent energy solutions, today announced that it has signed a partnership agreement with Green Mountain Power, an electric utility that transmits, distributes, and sells electricity in the State of Vermont in a service territory with approximately one quarter of Vermont's population. Under the terms of the partnership, customers currently enrolled in Green Mountain Power's demand response program will be rolled into EnerNOC's demand response network. In addition, Green Mountain Power and EnerNOC will work together to actively recruit additional commercial, institutional, and industrial customers into the program. Green Mountain Power selected EnerNOC as its preferred demand response partner in order to maximize its customers' revenue opportunities and ensure that they receive the highest levels of service and support.
"Our customers will benefit greatly from our new partnership with EnerNOC," said Mary Powell, President and Chief Executive Officer of Green Mountain Power. "The technical expertise that EnerNOC offers will enable our customers to take full advantage of demand response opportunities, thus saving them money."
Demand response is a program where customers reduce their electric usage in response to high wholesale prices or system reliability events. The program is available to customers who can quickly reduce at least 100 kilowatts of electric usage when notified of an event. By lowering energy usage, customers help decrease demand on the system, which saves costs for all customers in the region. Demand response programs offer these customers a financial incentive in exchange for their participation.
"We're very excited to work with Green Mountain Power and its customers," said Gregg Dixon, Senior Vice President of Sales and Business Development at EnerNOC. "EnerNOC's extensive experience working with businesses throughout New England -- including those in industries that are the lifeblood of the Vermont economy, such as lumber, food-processing, and hospitality -- enables us to develop customized energy reduction strategies, deliver reliable demand response results, and provide an overall increase in energy awareness for end-use customers."
For information about joining EnerNOC's demand response network, please visit www.enernoc.com/get-started or email info@enernoc.com.
About EnerNOC
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.
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About Green Mountain Power
Green Mountain Power (www.greenmountainpower.com) transmits, distributes and sells electricity and utility construction services in the State of Vermont in a service territory with approximately one quarter of Vermont's population. It serves more than 200,000 people and businesses.
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 success of EnerNOC's partnership with Green Mountain Power, the future success of EnerNOC's demand response and energy management solutions, and the ability of EnerNOC's customers to derive financial 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.