BOSTON, Jan. 18, 2017 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS) and demand response solutions, announced today that it has signed a four year, multi-million dollar demand response contract with FirstEnergy.
Under the terms of the contract, EnerNOC will deliver demand response resources to three of FirstEnergy's Pennsylvania utilities, helping the company cost-effectively meet its demand reduction targets mandated by Pennsylvania Act 129.
"EnerNOC's demand response solutions continue to be one of the most cost-effective resources utilities have at their disposal to improve the overall efficiency and reliability of the grid," said Tim Healy, Chairman and CEO of EnerNOC. "We're excited to extend our relationship with FirstEnergy, and together, put money back into the local economy."
EnerNOC's demand response programs pay commercial and industrial energy users to reduce energy consumption during times of peak demand. EnerNOC's industry-leading software helps companies maximize their demand response payments by providing real-time visibility into performance during demand response dispatches, while also giving utilities a real-time view into how both individual demand response assets and the portfolio as a whole are performing.
EnerNOC is a leading provider of energy intelligence software (EIS) and demand response solutions. With capabilities to better address budgets and procurement, utility bill management, facility analysis and optimization, sustainability and reporting, project tracking, and demand management, EnerNOC's SaaS platform helps enterprises control energy costs, mitigate risk, and streamline compliance and sustainability reporting. EnerNOC also offers access to more demand response programs worldwide than any other provider, offering enterprises a valuable payment stream to further enhance bottom line results and utilities and grid operators a reliable, cost-effective demand-side resource. 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 Company's future financial performance on both a GAAP and non-GAAP basis, and the future growth and success of the Company's energy intelligence software and demand response solutions, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. 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, 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.
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