BOSTON, July 20, 2010 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of clean and intelligent energy management applications and services, today announced that it has entered into a ten-year contract with the Tennessee Valley Authority (TVA) to provide up to 560 megawatts (MW) of demand response capacity throughout TVA's seven-state power service area. The TVA Board of Directors approved the contract last month.
"Customers throughout the seven-state TVA region will benefit from this clean, cost-effective resource, which will help manage peak demand. We're excited to have finalized our contract with TVA, and we look forward to building on our partnership with TVA and power distributors to serve end-use customers in this market," said Tim Healy, EnerNOC's Chairman and CEO.
"TVA is committed to demand reduction and the associated cost savings and other benefits it brings to consumers across the TVA service region," said John Trawick, Senior Vice President of Commercial Operations and Pricing at TVA. "We look forward to working with EnerNOC to increase participation in demand response and integrate more of this clean, reliable resource into our portfolio mix."
All participating commercial, institutional, and industrial sites will receive access to DemandSMART™, EnerNOC's comprehensive demand response application that enables real-time demand response performance management. In addition, all DemandSMART customers receive 24x7 real-time energy profiling data, which can be used to identify additional energy savings opportunities.
For information about joining EnerNOC's DemandSMART network, please visit www.enernoc.com/get-started.
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 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. For more information, visit www.enernoc.com.
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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 Company's clean and intelligent energy management applications and services, and the ability of ratepayers to derive benefits from these applications 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.