SAN FRANCISCO, Oct. 26, 2010 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy management applications that employs nearly 500 people, today announced that it has joined businesses, utilities, and civic, labor, and environmental organizations in opposition to Proposition 23, a California ballot initiative that would suspend the state's Global Warming Solutions Act of 2006, also known as Assembly Bill (AB) 32.
If approved by voters, Proposition 23 would suspend key initiatives to reduce greenhouse gas emission (GHG) levels in the state to 1990 levels by 2020 until the unemployment rate reaches 5.5 percent or below for four consecutive quarters. EnerNOC asserts that, contrary to the position put forth in Proposition 23, the Global Warming Solutions Act will stimulate job creation and drive the adoption of policies and practices that encourage investment in California businesses.
"EnerNOC is dedicated to advancing energy management initiatives in every state of the union. Where AB 32 set a course for reducing energy consumption and increasing efficiency, Proposition 23 would reverse that course," said David Brewster, president of EnerNOC. "Our customers have told us repeatedly that by implementing energy management strategies and GHG reduction initiatives, they have captured bottom-line savings that allow them to reinvest funds back into their core business and develop their workforce. Practical GHG emissions legislation will encourage investment in California's cleantech economy and stimulate significant job growth. We encourage California voters to oppose this ballot measure."
EnerNOC's energy management applications reduce energy usage, and in turn GHG emissions, delivering real savings for customers. Since 2007, EnerNOC has put millions of dollars back into the hands of its California customers through its comprehensive demand response application, DemandSMART™, and its data-driven energy efficiency application, SiteSMART™. As of June 30, 2010, EnerNOC had over 4,800 MW of demand response capacity under management and had saved its commercial, institutional, and industrial customers roughly $250 million since 2001.
As one of the leading energy management companies in California, EnerNOC employs nearly 100 individuals across the state, not including an extensive network of sub-contractors and suppliers. Since the beginning of the recession in October 2008, the firm has hired 260 individuals, more than 100 of whom filled newly created positions, demonstrating the high growth potential and long-term job creation that a commitment to clean energy technologies can deliver both within the state of California and nationwide.
Others Opposing Proposition 23:
Peter Darbee, Chairman and CEO of PG&E Corporation
"We at PG&E are committed to helping California make progress on both its environmental and economic goals, moving us toward a low-carbon economy while minimizing the impact on customers as we make this necessary transition. Studies show that unchecked climate change could cost California's economy alone tens of billions of dollars a year in losses to agriculture, tourism and other sectors. Thoughtful and balanced implementation of AB 32 is one of the most important opportunities we have to avoid this costly outcome while spurring new clean-tech investment, innovation and job creation in California."
Jim Hawley, Senior Vice President and General Counsel of TechNet
"In an increasingly competitive global economy in which countries are vying for preeminence on clean energy, California's leadership in implementing AB 32 has positioned our state for job growth and long-term competitiveness. Quite simply, if California suspends implementation of this historic measure, investment will go elsewhere. To build a strong economic future, California must continue to lead."
About EnerNOC
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; SiteSMART™, data-driven energy efficiency; 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 .
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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 expected effects of Proposition 23 and the future success of EnerNOC's clean and intelligent energy management applications and the value of those applications, 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.
CONTACT: EnerNOC, Inc. Media Relations: Sarah McAuley (617) 532.8195 news@enernoc.com