SOURCE: EnerNOC, Inc.
February 14, 2011 08:00 ET
EnerNOC Addresses PJM Statement on the Value of Demand Response Resources
BOSTON, MA--(Marketwire - February 14, 2011) - EnerNOC, Inc. (NASDAQ: ENOC), a leading provider of energy management applications for the smart grid, offers the following response to the public statement issued February 4, 2011, by PJM Interconnection (PJM) and its Independent Market Monitor related to the measurement and verification of demand response resources participating in its market:
EnerNOC reiterates its support for market rules that accurately measure and fairly compensate demand response resources for the value they provide in today's evolving energy markets. Demand response is a rapidly growing, transformative industry. EnerNOC is confident in the value of demand response and will continue to serve as a champion of its benefits. EnerNOC strongly endorses and complies with FERC-approved market rules, like those in the PJM market, that allow thousands of customers to be paid fair value for real-time actions to preserve grid reliability, instead of the traditional inefficient approach of overbuilding generation supply. In this way, customers have been empowered to lower the cost of energy paid by all consumers by hundreds of millions of dollars. Such democratization of the grid is essential in order to modernize our electric system and make our energy markets more efficient.
EnerNOC is in full compliance with PJM market rules. These rules are approved and supported by FERC, by law, and FERC approval is required to change them. As always, EnerNOC will continue to advocate for market rules that accurately reflect the value offered by demand-side resources. EnerNOC's track record is entirely consistent with this.
EnerNOC is fully deserving of all payments received for its participation in PJM. EnerNOC believes that Curtailment Service Providers (CSPs) should be paid for every megawatt of curtailment delivered to preserve grid reliability in accordance with the measurement and verification rules of each demand response program. The PJM statement does not question the fact that PJM receives a megawatt of actual load reduction for every megawatt it pays for through its mechanism of crediting CSP's, including EnerNOC, under its Emergency Load Response Program. EnerNOC has long advocated for fair compensation for actual, verifiable load curtailment provided during grid emergencies, a position FERC has consistently and strongly endorsed.
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 application and services suites 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 www.enernoc.com.
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 future growth and success of demand response, 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.