National Grid Selects EnerNOC to Manage Natural Gas Consumption in New York City
EnerNOC-Enabled Automated Fuel Switching Relieves System Constraints During Peak Periods
BOSTON, MA -- (Marketwire) -- 04/17/12 -- EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of energy management solutions for utilities and commercial, industrial, and institutional customers, today announced that National Grid has selected EnerNOC's technology and services platform to manage natural gas consumption at approximately 4,000 commercial, institutional, and industrial customer sites in Brooklyn and Queens. This agreement is in effect through March 2017. During this time, EnerNOC will provide National Grid with wireless hardware that automates fuel switching at the utility's enrolled customer sites. When on-site sensors detect that outdoor temperatures have dropped below a pre-defined level, EnerNOC's devices will automatically shift fuel consumption, optimizing the use of fuel sources based on weather and availability.
This innovative application of EnerNOC's technology enables National Grid to manage its gas supply portfolio and system capacity during peak demand periods in the winter heating season. In addition, National Grid will gain visibility into performance through EnerNOC's web-based software, which offers site-by-site and portfolio-wide performance data.
"Natural gas is a very attractive fuel for many of our customers, especially as prices have declined to historic lows. With that in mind, our goal is to leverage EnerNOC's technology to ensure that as many of our customers as possible have access to natural gas, even when demand is particularly high," said Ken Daly, President, National Grid New York. "We appreciate EnerNOC's combination of hardware and web-based software to track performance and manage this program."
With natural gas prices reaching record lows, EnerNOC's technology provides National Grid with tools to manage peak demand for gas. While other utilities have introduced temperature-controlled tariffs for natural gas, National Grid has gone one step further and chosen EnerNOC's technology to automate fuel switching. At each temperature-controlled customer site, EnerNOC's energy management platform can respond to programmable temperature settings, on demand, or on a set schedule to automatically shift fuel consumption from natural gas to oil for the duration of the peak load period. The process is seamless, and customers gain the benefit of lower rates throughout the year. In turn, National Grid can ensure system reliability and an ample supply of natural gas to all its customers during the winter period.
"Utility energy management opportunities are evolving, and EnerNOC offers the full breadth of services to make the most of those opportunities," said Tim Healy, EnerNOC's Chairman and CEO. "From hardware to software to full integration with back- office systems, this project demonstrates that range. It's also true to our goal of helping customers use energy more efficiently. Whether that energy comes in the form of electric power or natural gas, we are dedicated to helping utilities and their customers save money on their energy purchases."
To learn more about EnerNOC's energy management technology, please visit http://www.enernoc.com/our-technology.
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 improvement; 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.
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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.