BOSTON, MA--(Marketwire - Jul 20, 2012) - EnerNOC, Inc. (NASDAQ: ENOC), the world's leading provider of demand response solutions, announced that its DemandSMART network has been dispatched 32 times this week, providing real-time optimization of commercial and industrial electricity demand as the power grid across much of North America has felt the impact of high temperatures. In total, EnerNOC has delivered demand response in 14 states, the District of Columbia, and Ontario, Canada during the week.
In Pennsylvania, multiple utilities dispatched their DemandSMART resources as part of their Act 129 portfolios. On Wednesday, real-time Locational Marginal Pricing (LMP) in PECO's service territory spiked at nearly $260 per megawatt hour, more than five times the average prices. Shortly after demand response resources were dispatched, prices returned to the $40-$50 range.
"The frequency and magnitude of dispatches this season demonstrate how utilities and grid operators utilize demand response as an integral resource to help balance supply and demand," said Tim Healy, Chairman and CEO of EnerNOC. "Because of the investments that EnerNOC has made in its platform and infrastructure, we have been able to consistently deliver where and when our resources are dispatched."
Additionally, EnerNOC demand response resources were dispatched in the Pacific Northwest to balance intermittency of wind power. As intermittent renewable power expands and is integrated into the grid, demand response provides power balancing and firming value to energy markets.
"Demand response is a dynamic resource that can be used across wide regions or in a highly targeted manner to reduce system costs, offset short-term imbalances, and prevent grid emergencies. More and more utilities are adopting the full value that a versatile resource like demand response can add to the resource mix," continued Healy.
In total, EnerNOC dispatched over 1,100 megawatts (MW) of demand response capacity on Wednesday alone and approximately 3,000 MW during the week.
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™, continuous energy savings; 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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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 to continue to successfully deliver value to its customers, 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.