Tuesday, June 17, 2008

EnerNOC nabs deal with utility TVA

By Mass High Tech Staff

Boston-based power demand-response software maker EnerNOC Inc. has signed a new contract to provide 110 megawatts of demand response capacity to the Tennessee Valley Authority (TVA), a consortium of four power distributors in the seven-state area of the Tennessee Valley.

The new deal follows a successful demand response program between EnerNOC and TVA last summer, according to the company.

TVA includes Memphis Light, Gas and Water; Nashville Electric Service; Knoxville Utilities Board; and Huntsville Utilities. The region has a peak demand of 33,500 megawatts, more than that of New England or Ontario. The program will focus on the commercial and industrial customers of the providers in the region.

Financial terms of the deal were not released.

EnerNOC’s demand response platform is intended to help participating businesses and institutions reduce their nonessential electricity consumption during times of peak demand and offers financial incentives to organizations participating in the program.

EnerNOC went public in May 2007 and reported $60.8 million in revenue that year with a net loss of $23.6 million. By the end of 2007, EnerNOC reported contracts with 794 demand-response customers across 2,195 customer sites.