Wednesday, 17 June 2009

EnerNOC secures over $100m of potential revenue

EnerNOC has secured over $100 million of future potential revenue in the PJM Interconnection (PJM) market as a result of the 2012-13 Reliability Pricing Model Base Residual Auction (BRA).

This future potential revenue is for demand response capacity to be delivered from June 1, 2012 through May 31, 2013.

According to EnerNOC, between its new and existing resources, EnerNOC captured 35% of the total quantity of demand response capacity that cleared in the BRA.

With the exception of the capacity that EnerNOC will deliver to Allegheny Power under a previously announced contract, all of EnerNOC’s new capacity in the BRA cleared in higher-priced, constrained regions.

After the first quarter of 2009, the company increased megawatts under management by approximately 300, a significant amount of which resulted from sales efforts in the PJM Interconnection region, bringing the company’s total megawatts under management as of the date of this release to over 3,000 across more than 5,000 customer sites.

In the first quarter, the company signed seven new long term utility contracts, three in new States for the company, Arizona, Colorado, and Idaho. And it captured more than 60% of a competitive RFP opportunity with four investors on utilities in Maryland. In aggregate, EnerNOC expects this long term utility contract wins to represent over $120 million in combined potential revenue to EnerNOC.

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