EnerNOC Secures Over $300M in Expected Future Revenue Through PJM Capacity Auction
BOSTON, MA -- (Marketwire) -- 05/21/12 -- EnerNOC, Inc. (NASDAQ: ENOC), the world's leading provider of demand response applications and services, today announced that it expects to recognize over $300 million in revenue in the PJM capacity market during the 2015/2016 delivery year based on results of PJM's Reliability Pricing Model Base Residual Auction announced on May 18.
"Our strategy for the 2015/2016 auction was to continue to scale profitably, to solidify our position as PJM's largest demand response provider, and to secure premium capacity prices for our customers. Once again, our strong financial position gave us the flexibility to execute that strategy while positioning us well to capitalize on future growth opportunities," said Tim Healy, EnerNOC's Chairman and CEO. "The record amount of demand response that was procured through this auction continues to highlight the cost-effectiveness of this resource, and we could not be more pleased with our results."
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™, continuous energy savings; 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 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, and the ability of customers to derive benefits from those 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.