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BOSTON, Mar 13, 2008 (BUSINESS WIRE) -- EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of clean and intelligent energy solutions, announced today the launch of a new blackout prevention offering in Texas. EnerNOC is participating in the Electric Reliability Council of Texas' (ERCOT) Emergency Interruptible Load Service (EILS) and is partnering with local area businesses to reduce energy consumption during times of peak demand in order to maintain the stability of electricity resources. This strategic initiative marks EnerNOC's official entry into the Texas market, expanding the company's national footprint.
"Given the dynamics of the ERCOT market, including the rising peak demand, tight reserve margins and reliance on wind generation, we anticipate that demand response will be a long-term and increasingly valuable solution for maintaining grid reliability," said Tim Healy, chairman and chief executive officer, EnerNOC. "We expect that our early investments to meet the unique technology requirements of the ERCOT market, our seasoned sales team, our already strong relationships with national accounts with sites in Texas and our proven reputation for executing reliable, quick-to-dispatch demand response resources will result in a market leadership position for EnerNOC in this important region."
With peak demand of roughly 63,500 MW, ERCOT is more than twice the size of the New England market and, according to ERCOT's load forecasts in July 2007, peak demand is expected to increase more than 25 percent over the next 20 years. The American Council for an Energy-Efficient Economy estimates that by 2023, as much as 13 percent of ERCOT's peak demand could be addressed by demand response. In addition, ERCOT has recognized the need for additional demand response to ensure that the grid remains reliable as reserves tighten below the 12.5% margin considered optimal to maintain system reliability. Based on ERCOT's testimony to the Texas legislature in February 2008, reserve margins are expected to be 13.1 percent this summer and to fall below the 12.5 percent level by 2009. ERCOT has also used demand response to deal with unforeseen operational issues caused by weather and the growing amount of wind generation leveraged in the system. In February 2008, for example, ERCOT operators employed demand response to advert a potential emergency caused by a sudden drop in wind power due to unexpected weather.
In addition to grid reliability, demand response also offers the residents of Texas an environmentally-friendly alternative for meeting the region's growing energy requirements. In an October presentation to Gulf Coast Power Association, Public Utility Commission of Texas Chairman Barry Smitherman said that demand response is part of a portfolio of technology solutions that will be needed to reduce C02 emissions over the coming decades.
"The regulatory support for demand response and energy efficiency further strengthens our belief that ERCOT will be a favorable market for EnerNOC's solutions," concluded Healy.
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.
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 demand response and energy management solutions, including a market leadership position for EnerNOC in the ERCOT region, the Company's ability to continue to capture market share and grow its business in terms of megawatts under management, revenues and gross margin, and the expansion into new markets, 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 final prospectus, as filed with the Securities and Exchange Commission on November 14, 2007, 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, the Company'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.
SOURCE: EnerNOC, Inc.
EnerNOC, Inc. Media Relations: Sarah McAuley, 617-532-8195 news@enernoc.com or Investor Relations: Will Lyons, 617-532-8104 ir@enernoc.com
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