EnerNOC Introduces New Utility Demand Response Product
SAN ANTONIO and BOSTON, Jan. 29, 2014 (GLOBE NEWSWIRE)—Today at DistribuTECH, EnerNOC, Inc.(Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), announced that it has expanded its demand response offerings for electric utilities and retail energy suppliers. The company introduced EnerNOC Demand ManagerTM, software-as-a-service (SaaS) that provides utilities and retailers with the tools to manage their demand response programs and leverages EnerNOC's industry-leading technology for commercial and industrial (C&I) demand response. This new offering also includes a data integration API that allows EnerNOC's energy intelligence software to integrate with utility interval data collected from existing utility meters, which will allow utilities to leverage their investments in AMI/smart meter infrastructure and deliver additional value to their C&I customer base.
"This expansion enables a broader range of utility customers to benefit from EnerNOC's energy intelligence software and solutions," said Tim Healy, Chairman and CEO of EnerNOC. "We can now provide utilities and retailers EnerNOC Demand ManagerTM if they prefer to buy software and professional services for demand response program management over traditional capacity-based resource procurement."
EnerNOC now offers the following two demand response products to utilities and retailers:
- EnerNOC Demand ResourceTM, a capacity-based agreement that provides utilities an assured level of load reduction delivered by EnerNOC on a turnkey, fully outsourced basis; and
- EnerNOC Demand ManagerTM, software-as-a-service that provides utilities with tools to manage their demand response programs, including real-time load monitoring, dispatching applications, customizable reports, measurement and verification applications, and numerous professional services.
EnerNOC Demand ManagerTM allows utilities and retailers to improve the performance and cost-effectiveness of their internally managed demand response programs by leveraging EnerNOC's DemandSMART™ cloud-based demand response software, OpenADR 2.0B-certified real-time metering and controls, and secure network operations infrastructure. Utilities and retailers can now purchase EnerNOC's integrated software and hardware as a stand-alone package or in combination with customized customer engagement and professional services, including program marketing support, participant recruitment, field engineering services, and portfolio management, among others.
Several EnerNOC utility customers have already adopted and begun implementing EnerNOC Demand ManagerTM, including Louisville Gas & Electric and Kentucky Utilities Company (LG&E and KU) and ERM Power in Eastern Australia.
"We needed to provide our medium and large commercial customers with an effective way to partner with us to help manage future energy costs," said David Huff, Director of Customer Energy Efficiency and Smart Meter Strategy, LG&E and KU. "Through our partnership with EnerNOC, we were able to quickly and effectively engage our commercial customers in a successful tariff-based program, proving that demand response can be implemented in a cost-effective manner. We managed our customer incentive payments directly, while EnerNOC supported our program with recruitment, site enablement, and dispatch and monitoring software."
EnerNOC Demand ManagerTM is ideal for utilities with existing tariff-based demand response programs, those with fully automated demand response (AutoDR), as well as smaller-scale programs or those deployed by competitive retailers in which utilities prefer to contract directly with their customers for load reduction.
To learn more about EnerNOC's demand response technology offerings for utilities, visit EnerNOC's booth #619 at DistribuTECH. DistribuTECH is the premier annual conference for power industry professionals, focusing on energy distribution infrastructure and related topics.
EnerNOC (Nasdaq:ENOC) is a leading provider of energy intelligence software and related solutions. EnerNOC unlocks the full value of energy management for utility and commercial, institutional, and industrial (C&I) customers by delivering a comprehensive suite of demand-side management services that reduce real-time demand for electricity, increase energy efficiency, improve energy supply transparency in competitive markets, and mitigate emissions. EnerNOC's Utility Solutions™ offerings, which include both implementation and consulting services, are helping hundreds of utilities and grid operators worldwide meet their demand-side management objectives. EnerNOC serves thousands of commercial, institutional, and industrial customers worldwide through a suite of energy management applications including: DemandSMART™, comprehensive demand response; EfficiencySMART™, continuous energy savings; and SupplySMART™, energy price and risk management. EnerNOC'sNetwork Operations Center (NOC) offers 24x7x365 customer support. 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 energy management applications and services, including its EnerNOC Demand Resource and EnerNOC Demand Manager applications and services, and the benefits that customers may derive from those applications and services, 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.