EnerNOC's New Zealand Ancillary Services Program Honored at PLMA Awards
EnerNOC and Partners Receive 'Outstanding Program Achievement' Award at NYC Ceremony
BOSTON, MA -- (Marketwire) -- 05/24/12 -- EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of energy management applications for the smart grid, today announced that the ancillary services program it has spearheaded in New Zealand with its grid operator and utility partners has been recognized for its success by the US-based Peak Load Management Alliance (PLMA). EnerNOC, along with New Zealand-based Transpower, Meridian Energy, and Genesis Energy, delivers Interruptible Load (IL) in New Zealand's Instantaneous Reserves Market. EnerNOC and its partners received the PLMA Award for Outstanding Program Achievement at PLMA's Spring Conference in New York City on May 23rd.
EnerNOC offers over 120 MW of interruptible load to the Instantaneous Reserves Market in New Zealand's North Island, and is currently expanding into the South Island. Instantaneous Reserves are used to manage the frequency recovery on the grid after an under-frequency event. The IL program has added new reserves to provide fast response to grid-level disturbances as well as diversity in capacity sources, both of which enhance grid reliability. This new resource will enable even more renewable generation to be cost-effectively and reliably integrated into the New Zealand grid throughout the next decade.
EnerNOC's three project partners -- Transpower, Meridian Energy, and Genesis Energy -- each provide unique value in the aggregation of demand response capacity across New Zealand's grid. Their participation has been instrumental to the program's success. As the system operator, Transpower encouraged the entry of an aggregator into the market. Meridian Energy's trading desk helps facilitate EnerNOC's market offers, and Genesis Energy's wholesale trading group participates by purchasing a fixed volume of IL capacity.
To provide reserve capacity, EnerNOC has contracted a robust, diverse portfolio of energy users from industries such as manufacturing, food processing, and cold storage. These users are paid based upon the load reduction they can provide, and when an under-frequency dispatch is triggered, this load is instantaneously removed from the grid. This innovative automated demand response (AutoDR) resource offers benefits over traditional generation sources. For example, EnerNOC's AutoDR participants may be restored in a staggered fashion, which limits the further stress on the grid that would occur if they were all to come back online at once.
The project is an example of the innovation and collaboration required to deliver ancillary services for smart grids. "The collective effort of EnerNOC and the honorees has enabled New Zealand's electricity consumers to be paid to help maintain a reliable and highly renewable electricity supply system," said Tim Healy, Chairman and CEO of EnerNOC. "EnerNOC is proud to see our program being recognized for its contribution to expanding New Zealand's renewable energy resources and the stability of the electric grid."
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.