BOSTON, Nov. 22, 2010 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of commercial, institutional, and industrial demand response, today announced its support of efforts by the PJM Interconnection (PJM) to introduce two additional demand response products into its market. The new products, which were discussed at a meeting of PJM members last Thursday, November 18th, would facilitate the continued growth of demand response participation in the PJM markets. Specifically, the new products would offer higher availability, enabling a greater percentage of market penetration by demand response without impacting PJM system reliability. The dispatch criteria for all of PJM's capacity-based demand response products would remain the same, namely emergency situations that could result in potential brownouts or blackouts.
"Introducing new demand response products, in addition to our existing capacity-based demand response product, is important for the continued growth of demand response in PJM. Our goal is to reach resolution before the 2014/15 Base Residual Auction in May 2011," said Andrew Ott, Senior Vice President of Markets at PJM.
If the new products are not filed and approved by FERC in time for the 2014/15 Base Residual Auction, then the current opportunity for demand response under the existing capacity-based demand response product would remain.
"We're encouraged that PJM, a leading adopter of demand response, is actively looking into the future to expand the opportunity for demand response to deliver value in its markets. Expanding PJM's demand response portfolio would be good for the grid, good for demand response providers, and good for the businesses that participate in this growing market. EnerNOC is uniquely positioned to increase the availability of demand response resources for PJM dispatch due to our scale, diversity of end-use customers, and extensible technology. We're excited by the opportunity that new products would create for us to deliver even more options and value to customers in our network," said David Brewster, President of 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; EfficiencySMART™, 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, new product introductions or program rule developments by PJM Interconnection and the future growth and success of the Company's demand response 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.
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