EnerNOC Signs Utility Contract Extension With Genesis Energy To Deliver Automated Demand Response In New Zealand
SAN ANTONIO and BOSTON, Jan. 29, 2014 (GLOBE NEWSWIRE)—EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), today announced that it has extended its EnerNOC Demand ManagerTM contract with Genesis Energy to deliver sub-second automated demand response (AutoDR) on New Zealand's North and South Islands. This new agreement extends the North Island component of the contract through 2015. EnerNOC Demand Manager provides utilities with software-as-a-service tools to manage their demand response programs, including real-time load monitoring, dispatching applications, customizable reports, measurement and verification applications, and numerous professional services.
"Through Genesis Energy, EnerNOC is leveraging its advanced technology in New Zealand and has built one of the world's most sophisticated approaches to demand response," said Tim Healy, Chairman and CEO of EnerNOC. "EnerNOC's energy intelligence software and solutions help address grid challenges by delivering the tools customers need to provide ancillary services that enable load balancing and the integration of more renewable energy resources. We look forward to continuing our relationship with Genesis Energy and believe that there is an exciting opportunity to export the innovative solutions that we are developing in New Zealand to other markets around the world."
EnerNOC entered the New Zealand Electricity Market in July 2011 when it acquired Energy Response, which at the time was, and is still, the largest provider of demand response in Australia and New Zealand. In March 2012, EnerNOC expanded its New Zealand footprint to include the country's South Island through its initial agreement with Genesis Energy to provide AutoDR, referred to as Interruptible Load in that market.
When an under-frequency event is triggered, electric demand from commercial and industrial facilities that participate in this advanced program is automatically reduced from the grid in less than one second. After this demand response event, EnerNOC's AutoDR participants are then restored in a staggered fashion, limiting further stress on the grid that would occur if they were all to come back online at once.
"Demand response plays an important role in delivering a flexible and reliable resource to the grid, and working with EnerNOC helps us hedge market risk. We are building an enduring partnership with EnerNOC that pushes the bounds of innovation," said Albert Brantley, CEO of Genesis Energy.
Ancillary Services in New Zealand include Interruptible Load as part of the instantaneous reserves market, which are used to ensure the stable operation of the grid. Spinning reserves can be provided by generators, and Interruptible Load by distributors, large industrial consumers and now by aggregators. As System Operators dispatch more renewable generation, which is more variable and intermittent, and as demand spikes become greater and more uncertain, software and solutions that deliver AutoDR become an increasingly essential resource.
To learn more about EnerNOC's energy intelligence software and solutions for utilities and retail energy suppliers, go to http://www.enernoc.com/our-technology, or visit EnerNOC's booth #619 at DistribuTECH. DistribuTECH is the premier annual conference for power industry professionals.
EnerNOC is a leading provider of energy intelligence software and related solutions. EnerNOC unlocks the full value of energy management for utility and commercial, institutional, and industrial (C&I) customers by delivering a comprehensive suite of demand-side management services that reduce real-time demand for electricity, increase energy efficiency, improve energy supply transparency in competitive markets, and mitigate emissions. EnerNOC's Utility Solutions™ offerings, which include both implementation and consulting services, are helping hundreds of utilities and grid operators worldwide meet their demand-side management objectives. EnerNOC serves thousands of commercial, institutional, and industrial customers worldwide through a suite of energy management applications including: DemandSMART™, comprehensive demand response; EfficiencySMART™, continuous energy savings; and SupplySMART™, energy price and risk management. EnerNOC'sNetwork Operations Center (NOC) offers 24x7x365 customer support. 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, including its EnerNOC Demand Resource and EnerNOC Demand Manager applications and services, and the benefits that customers may derive from those applications and services, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. 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, the Company'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.