BOSTON, Feb. 6, 2013 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), the world's leading provider of demand response, today announced that it has expanded its presence in Southern California through a new contract with Southern California Edison (NYSE:SCE). Under the terms of the new contract, EnerNOC will increase its number of megawatts in SCE's service territory by approximately 15 percent through December 31, 2014, consistent with the term of EnerNOC's expanded contract with PG&E announced in a press release dated February 5, 2013.
EnerNOC won the additional megawatts through a competitive bidding process in which EnerNOC was awarded more than twice as many megawatts as any other third-party provider, and more than 40 percent of all megawatts awarded to the six successful bidders.
"SCE has been a long-standing leader in utilizing demand response resources, and we're proud to build on our current relationship with SCE to deliver our innovative solutions to even more California businesses while delivering valuable capacity to the grid," said Tim Healy, Chairman and CEO of EnerNOC.
This contract covers a utility service territory where EnerNOC also has contracts to deliver commercial and industrial energy efficiency services, allowing customers in the region to benefit from an integrated energy management portfolio comprised of both demand response and energy efficiency solutions.
EnerNOC provides its Utility Solutions™ Implementation and Consulting services to hundreds of utilities, grid operators, and power distributors worldwide, and is the largest third-party provider of demand response resources in California. Commercial, institutional, and industrial participants in EnerNOC's demand response network receive access to EnerNOC's DemandSMART™ application, which helps increase demand response curtailment, maximize demand response payments, and improve visibility into real-time energy consumption.
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. EnerNOC serves thousands of commercial, institutional, and industrial customers worldwide through its suite of energy management applications including: DemandSMART™, comprehensive demand response; EfficiencySMART™, continuous energy savings; and SupplySMART™, energy price and risk management. EnerNOC's Utility Solutions™ offerings, which include Implementation and Consulting services, have helped hundreds of utilities and grid operators worldwide meet their demand-side management objectives. Our Network Operations Center (NOC) offers 24x7x365 customer support. For more information, visit www.enernoc.com.
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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 Company's energy management applications and services, in particular its DemandSMART application, and the ability of EnerNOC to expand the value it brings to its utility and C&I customers, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. In addition, certain of EnerNOC's contracts and expansion of existing contracts may be subject to approval of state or local regulatory agencies. There can be no assurance that such approvals will be obtained on a timely basis or at all. 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.