Friday, June 20, 2008

EnerNOC extends SCE deal with 110Mw through four years

By Mass High Tech Staff

EnerNOC Inc., a developer of power demand-response software, has landed a deal to provide Southern California Edison with up to 110 megawatts of demand response capacity through 2012. The agreement is a four-year extension on a previous 40 megawatt provider deal, covering 50,000 square miles of territory, that expires this December.

The contract is the second of its kind that EnerNOC (Nasdaq: ENOC) has landed in the month of June. On Tuesday, EnerNOC announced a similar agreement to supply 110 megawatts of demand response capacity to the Tennessee Valley Authority, which combines four power distributors throughout seven states in the Tennessee Valley — an area that reaches 33,500 megawatts of power during peak demand. 

Boston-based EnerNOC monitors the electricity and supply demand through its Network Operations Center and aims to reduce nonessential electricity use by businesses and institutions during times of peak demand.

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