BOSTON, June 25, 2010 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of clean and intelligent energy management applications, today announced that in response to yesterday's grid emergency caused by the failure of two major power plants in the Northeast, EnerNOC dispatched more than 1,000 assets in its DemandSMART™ network, resulting in roughly 380 megawatts of reduced electricity demand. The rapid reduction in demand helped save ratepayers millions of dollars by restoring back to more typical pricing levels the region's real-time energy rates that had spiked to over $1,000 per megawatt-hour.
"Based on our forecasts for increased peak electricity demand, EnerNOC is prepared for what could be a very active summer of demand response activity," said Tim Healy, Chairman and CEO of EnerNOC. "Yesterday, EnerNOC delivered the equivalent capacity of roughly three peaking power plants, which has significant value in today's volatile and increasingly complex energy markets. Our DemandSMART application enabled us to respond quickly and provide the clean resource ISO New England was counting on."
"EnerNOC was the first demand response provider to show a significant impact on today's load drop in New England. In addition, we were dispatched in San Diego and we remained on high alert in PJM as temperatures neared 100 degrees. Our rapid response, our capacity to handle multiple dispatches simultaneously, and our ability to consistently deliver a high value resource is the direct result of our differentiated technology," said Darren Brady, EnerNOC's Chief Operating Officer.
During the 2 1/2-hour dispatch of a portion of EnerNOC's demand response resources in New England, the Company's Network Operations Center (NOC) managed more than half a million data transactions. The Company's NOC operators used this data to systematically manage individual site performance in real time. In addition, customers logged in to and relied heavily on EnerNOC's DemandSMART application to manage their individual performance, ensuring that their energy reduction targets were hit and maintained to maximize their participation and corresponding financial payments.
"We see EnerNOC demand response as one way to lower our energy costs while protecting our business and our community. EnerNOC is one of the most professional, helpful companies I've ever worked with. Their staff makes sure everything goes smoothly, from start to finish," said Bill DiMento, Director of Manufacturing and Regulatory Affairs at High Liner Foods, which has multiple sites in Danvers, MA, Peabody, MA and Portsmouth, NH enrolled with EnerNOC.
So far in 2010, EnerNOC has responded to over 50 demand response dispatches, yielding an average performance of over 100 percent, based on nominated versus delivered capacity.
About EnerNOC
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; SiteSMART™, data-driven energy efficiency; SupplySMART™, energy price and risk management; and CarbonSMART™, enterprise carbon management. Our Energy Network Operations Center (EnerNOC) supports these applications across thousands of C&I customer sites throughout the world. Using our C&I customers' energy usage flexibility, we make capacity, energy, ancillary services, and carbon products available to grid operators and more than 100 utilities on demand as a cost-effective alternative to traditional power generation, transmission, and distribution. For more information, visit www.enernoc.com.
The EnerNOC, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5804
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 clean and intelligent energy management applications and the value of those applications, 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.