EnerNOC Provides Critical Grid Support During Heat Wave
DemandSMART Platform Dispatched by Eleven Grid Operators and Utilities Throughout North America
BOSTON, MA -- (Marketwire) -- 06/25/12 -- EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of energy management applications for the smart grid, today announced that last week its demand response resources were dispatched 21 times in North America, delivering cost-effective, clean, much-needed capacity to many strained regions of the electricity grid. Of particular note, on Thursday, June 21, EnerNOC was dispatched by eleven grid operators and utilities across the US and Canada, including eight in Pennsylvania and New York, largely in response to a record heat wave across the northeast and mid-Atlantic regions that put strain on the grid and drove real-time energy prices in some regions to over $1,500 per megawatt hour, approximately 60 times higher than the previous week's average prices. Demand response reduces the need for utilities and grid operators to procure additional supply at such high prices both by reducing overall demand on the grid and by targeting reductions in particularly constrained areas.
"Nearly 1,200 commercial, institutional, and industrial energy users in Pennsylvania, New York, Vermont, Ontario, and other constrained regions responded to Thursday's dispatch, providing valuable capacity to the grid that helped to stabilize prices and reduce system strain," said Tim Healy, Chairman and CEO of EnerNOC. "Our DemandSMART application, which streams real-time energy data from thousands of sites, showed demand quickly drop from the grid as our network was activated and allowed our customers to see the contribution they were making to grid reliability and reduced prices."
"Participation was seamless. We received our automated notifications from EnerNOC, implemented our curtailment plan, and after a few hours, we received another notification and our usage was restored," said Jeff Nichols of Great American Pellets in Palmerton, PA, which was dispatched last week as part of EnerNOC's Act 129 Program with PPL. "With temperatures spiking, we're proud that we were able to do our part to deliver valuable capacity that helped keep the lights and air conditioners on throughout the region."
"At Beaumont, we take the health and safety of our residents very seriously. By participating in demand response, we're helping to protect the grid from brownouts and blackouts, which can have a dramatic impact on the comfort of our residents," said Sue Kendra, Chief Financial Officer at Beaumont at Bryn Mawr, a Continuing Care Retirement Community located in Bryn Mawr, Pennsylvania. Beaumont at Bryn Mawr was dispatched as part of EnerNOC's Act 129 Program with PECO.
In total last week, EnerNOC dispatched approximately 1,000 MWs of demand response capacity.
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 DemandSMARTTM, comprehensive demand response; EfficiencySMARTTM, continuous energy savings; SupplySMARTTM, energy price and risk management; and CarbonSMARTTM, enterprise carbon management. Our Netwwork 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.