TransGrid Increases Network Reliability With EnerNOC's DemandSMART(TM)
Expands EnerNOC's Demand Response Contract in Sydney, Australia
SYDNEY, New South Wales, Oct. 31, 2012 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a global provider of energy management applications and services, has finalized an agreement with TransGrid, the New South Wales transmission network operator, to provide 35 megawatts (MW) of demand response capacity in the Sydney metropolitan area. Managing Director of TransGrid, Mr. Peter McIntyre, said the innovative demand management agreement between the two companies will help reduce peak demand and support Sydney's high voltage electricity grid this coming summer.
"By having the ability to shift the power consumption of some of Sydney's major energy users outside peak periods, TransGrid will be in the best position to respond to pressure on its existing transmission network during peak periods," said Mr. McIntyre. "In addition, EnerNOC's software will allow some of Sydney's largest energy users to understand how their sites consume energy and how they can reduce consumption at peak times."
"EnerNOC continues to see significant opportunity in the Australia and New Zealand markets, encouraged by innovative companies like TransGrid that are embracing EnerNOC's technology-driven approach for meeting the region's energy needs," said Tim Healy, Chairman and CEO of EnerNOC.
In addition to maximizing demand response dispatch performance, EnerNOC enables participants in its demand response network to view and more actively manage their energy usage in real time. EnerNOC has deployed its DemandSMART software at thousands of sites worldwide, including universities, data centers, and manufacturing facilities throughout the Sydney metropolitan area.
"The program is ideally suited for organizations that use a large amount of energy and are looking for innovative ways to lower costs and improve their bottom lines," said Jeff Renaud, EnerNOC's Director of Australia and New Zealand.
TransGrid is responsible for the high voltage electricity transmission network in New South Wales, Australia. Electricity is generated at power stations, and then transmitted by TransGrid to electricity distributors through its network of over 12,600km of high voltage transmission lines and substations. Electricity is delivered to homes and businesses by distributors such as Essential Energy, Ausgrid and Endeavour Energy. For more information, visit: www.transgrid.com.au
EnerNOC unlocks the full value of energy management for our 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 SolutionsTM 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 its suite of energy management applications including: DemandSMARTTM, comprehensive demand response; EfficiencySMAR,TcTMontinuous energy savings; SupplySMARTTM, energy price and risk management; and CarbonSMARTTM, enterprise carbon management. OuNretwork 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 EfficiencySMART 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.