EnerNOC Tops $500 Million in Customer Savings Worldwide
Energy Management Initiatives Contribute Half a Billion Dollars in Bottom-Line Impact for EnerNOC's Customers
BOSTON, MA -- (Marketwire) -- 04/02/12 -- EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of energy management applications and services, today announced that it has achieved more than $500 million in estimated savings to date for its commercial, institutional, and industrial (C&I) customers through its demand response, energy efficiency, and energy supply procurement solutions. EnerNOC works closely with more than 4,900 businesses and organizations worldwide on their energy management initiatives, helping its C&I customers to spend less on energy, use it more efficiently, and be paid to participate in demand response programs. These efforts have resulted in more than half a billion dollars in estimated savings and payments that have gone directly to energy users in EnerNOC's global network.
"EnerNOC is changing the way the world uses energy, and those changes add up to real savings," said Tim Healy, Chairman and CEO of EnerNOC. "Our customers are some of the world's most innovative, sophisticated, and efficient organizations. They are dedicated to managing energy because it helps them lower costs, expand their workforce, and boost their profits, year after year. In a globalized economy, energy management gives our customers a competitive edge, and we are proud to share these savings with them to help them grow their businesses."
EnerNOC has grown rapidly over the past several years, increasing its network of sites tenfold from 1,150 on February 12, 2007 to more than 11,400 as of December 31, 2011. It has also expanded from operating exclusively in the United States to becoming the global leader in demand response with a network spanning Canada, the United Kingdom, Australia, and New Zealand. EnerNOC offers its DemandSMARTTM comprehensivdeemand response application to business and utilities worldwide and now manages more than 7,100 megawatts of demand response, the equivalent of seven nuclear power stations or approximately 70 peaking power plants' worth of capacity.
EnerNOC has also become a leader in advanced energy efficiency, helping its customers to capture continuous energy savings through contracts with premier clients in the government, commercial property, food sales, and education sectors. In addition, EnerNOC manages approximately $1.75 billion in energy spend on behalf of its customers, helping them to design competitive energy supply purchasing agreements that balance cost reduction and long-term price visibility with its SupplySMARTTM solution. Through its EfficiencySMARTTM suite of solutioEnnse,rNOC has identified sufficient energy- and emissions-saving opportunities to eliminate the carbon emissions equivalent of taking more than one million cars off the road.
Customer savings represent EnerNOC's estimate of total customer savings based on historical demand response payments to C&I customers, C&I customers' energy purchase savings realized over standard utility rates, energy efficiency opportunities identified and delivered to C&I customers, and utility-verified energy savings achieved by EnerNOC since 2007.
Assumptions Regarding Customer Savings:
The customer savings estimated from EnerNOC's provision of energy management services have been prepared by management and are based upon contractual terms and a number of assumptions, including:
- Demand response payments earned for EnerNOC's C&I customers since 2007, as a portion of previously reported cost of revenues;
- Utility-verified energy savings identified on behalf of and implemented for C&I customers by EnerNOC and companies acquired by EnerNOC since 2007;
- National and regional average commercial and industrial retail rates for electricity and natural gas, as well as carbon dioxide emissions factors, derived from data compiled by the U.S. Energy Information Administration; and
- The electricity and natural gas consumption of EnerNOC's commercial, institutional and industrial end-use customers remaining consistent with historical use throughout the term of its energy supply procurement advisory contracts with such customers.
Any differences among these assumptions, other factors, and EnerNOC's actual experiences may result in actual customer savings differing from management's current estimate of customer savings. In management's view, such information was prepared on a reasonable basis, reflects the best currently available estimates and judgments, and, to the best of management's knowledge and belief, presents the assumptions and considerations on which EnerNOC bases its belief that it has achieved such customer savings.
For more information on EnerNOC's full suite of energy management applications, please visit www.enernoc.com/solutions.
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, d-dartiaven energy efficiency; SupplySMARTTM, energy price and risk management; and CarbonSMARTTM, 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.