BOSTON, MA — (Marketwire) — 07/26/11 — (NASDAQ: ENOC), the world-s leading provider of demand response applications and services, today announced that its network was dispatched at record levels on July 22, 2011 as a severe heat wave swept North America. High temperatures and increased electricity usage across the continent led to record peaks in demand for electricity and unusually high energy prices. EnerNOC-s network responded to a series of dispatches from grid operators including the mid-Atlantic-s PJM Interconnection, New York Independent System Operator, the Ontario Power Authority, and ISO-New England. EnerNOC was also dispatched by utility partners from across the United States, ultimately providing approximately 1,230 megawatts (MW) of demand response resources in all. These demand response dispatches helped mitigate the risk of blackouts and brownouts and reduce the cost of energy for all electricity users in the affected regions.
With record temperatures across North America, grid operators set records for demand and saw prices spike across their territories. PJM Interconnection, the nation-s largest grid operator, announced that it last week at 158,450 MW. In ISO-New England, real-time pricing in some areas eclipsed $560 per megawatt-hour, approximately ten times the average 2011 hourly real-time price. EnerNOC also reached new milestones by deploying more than a third of the sites within its demand response network and dispatching a record number of megawatts to help mitigate these conditions. In total, EnerNOC contributed resources to twelve U.S. states, including all of New England, New York, Maryland, Delaware, New Jersey, Pennsylvania, and Idaho, as well as the province of Ontario, Canada.
“When temperatures rise, it puts significant strain on the electricity grid, and utilities and grid operators are increasingly looking to demand response to maintain secure, cost-effective service during these peaks. Our technology allows us to respond to the real-time needs of the grid, rapidly and with precision,” said Tim Healy, chairman and CEO of EnerNOC. “Demand response is a clean, reliable, cost-effective resource for utilities and grid operators, and it also encourages our commercial, institutional, and industrial customers to practice more efficient energy use throughout the year through energy efficiency, supply management, and carbon management initiatives.”
“Participating in demand response is straightforward, secure, and unlike a blackout, it-s invisible to our guests,” said Phoebe Ky, Director of Real Estate at Loews Hotels, which contributes demand response resources in New York City and PJM Interconnection. “We are happy to do our part to support the grid, and working with EnerNOC helps us to encourage smart energy use, both in our facilities and on the grid at large.”
As of March 31, 2011, EnerNOC had more than 6,300 MW under management across more than 10,000 sites. For more information about EnerNOC-s DemandSMART comprehensive demand response application or its suite of energy management applications, please visit .
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. For more information, visit .
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 such 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.
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