SOURCE: EnerNOC, Inc.

EnerNOC, Inc.

March 04, 2011 10:55 ET

FERC Issues Declaratory Order, Rejects the Joint Statement by PJM and Its Market Monitor, and Affirms Existing PJM Rules

BOSTON, MA--(Marketwire - March 4, 2011) - EnerNOC, Inc. (NASDAQ: ENOC), the leading provider of demand response to commercial, institutional, and industrial customers, today announced that the Federal Energy Regulatory Commission (FERC) has addressed EnerNOC's Petition for Declaratory Order filed on February 22, 2011. FERC's Order resolves the uncertainty created by the February 4, 2011 Joint Statement issued by PJM and its Market Monitor, and upholds existing PJM market rules.

In its Order, FERC stated, "We will not consider the issuance of the Joint Statement in any of our considerations regarding market manipulation, and will treat it as if it were never issued. In this fashion, market participants will be placed in exactly the same situation that they were prior to the Joint Statement." FERC further clarified that it currently "does not intend to institute any enforcement actions against [market participants] for registering customers in good faith and settling under the [Guaranteed Load Drop] baseline methodology," and that "[g]ood faith participation in the PJM load management programs, including accurate customer [Guaranteed Load Drop] registration and aggregation during emergency events, is permitted."

"EnerNOC is pleased that the Commission has delivered a swift order to bring clarity to this issue for the upcoming delivery year. We continue to assert that a customer's compensation for demand response should be based on actual, verified load reduction, consistent with PJM's existing market rules, and should not be limited by the customer's demand for electricity in the prior year," said David Brewster, President of EnerNOC.

Throughout these proceedings, EnerNOC has worked to protect its customers and all ratepayers by supporting market rules and due process that promote PJM market integrity, efficiency, and reliability. FERC's order upholds the proposition that the appropriate forum for policy deliberations is the PJM stakeholder process and ultimately FERC itself.

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 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 potential modification of the PJM market rules, 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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