Boston based EnerNOC (NASDAQ: ENOC) is a leading provider of energy demand response services and applications. In 2010 the company enjoyed a 47 percent increase in revenues over 2009, hitting a whopping $280.2 million. Its latest Q1 2011 results, however, are just slightly greater than those of Q1 2010 at $31.8 million and $28.1 million, respectively.
Regardless of revenues, speaking to the power (pun intended) behind EnerNOC’s solutions, today the company announced its flagship DemandSMART network product hit a new milestone. DemandSMART’s network responded to what EnerNOC describes as its most active dispatch period to date. To be more precise, this was, “the largest-ever dispatch when PJM Interconnection called for 1,200 megawatts (MW) across 1,600 sites from New Jersey to Virginia on May 31, 2011.”
What was EnerNOC’s role during that 48-hour time period starting on May 30th? Its network triggered demand response procedures at more than 2,600 commercial and industrial sites across the US (PJM Interconnection and the Tennessee Valley Authority), Canada (the Ontario Power Authority) and the UK (National Grid).
“Our portfolio was dispatched over 220 times last year, and we are off to a fast start in 2011. These early-season dispatches remind us that demand response is far more than a summer-only resource. Our grid operator and utility partners are relying on demand response more than ever, our C&I providers are ready to deliver capacity whenever and wherever it is needed, and our Network Operations Center is there 24/7/365 to support them all,” said Tim Healy, chairman and CEO of EnerNOC. “Utilities and grid operators can depend on EnerNOC’s services, and our applications unlock new revenue streams for thousands of businesses and organizations worldwide. Ultimately, all ratepayers benefit from a more cost-effective and reliable electric power grid throughout the year.”
According to EnerNOC, as of March 31, it has had more than 6,300 MW under management across more than 10,100 sites. To learn more about EnerNOC’s solutions click here.
