EnerNOC lands third UK energy management customer

By Kyle Alspach

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EnerNOC Inc. (Nasdaq: ENOC) announced Wednesday it will provide demand response to a major electricity distribution network in England.

The Boston-based energy management company said it had reached a five-year agreement to provide the demand response capacity to Electricity North West Limited, which serves 2.4 million domestic and industrial customers. EnerNOC did not disclose a dollar value for the deal.

Electricity North West Limited is EnerNOC’s third customer in the United Kingdom. The company already provides the services to National Grid and UK Power Networks.

Demand response involves paying commercial and industrial clients to lower their electricity during peak demand periods, which helps to maintain stability of the electric grid. The company leads the demand response market with 5,300 megawatts under management.

EnerNOC shares surged on Monday after the company said it expects to receive $275 million in demand response revenue from its largest customer in 2014, which would represent an increase of 64 percent over last year.

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