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EnerNOC Inc. (Nasdaq:ENOC) said Monday it expects to receive $275 million in demand response revenue from its largest customer as of 2014, which would represent an increase of 64 percent over last year.
The Boston-based energy management company said the revenue expectation from East Coast grid operator PJM Interconnection is based on the results of a PJM auction.
EnerNOC has previously disclosed that it expected revenue to decrease as a percentage of total revenue in 2011 and 2012, as “significantly lower capacity prices” in the market take effect. The company leads the demand response market with 5,300 megawatts under management.
Shares in the company were up 8 percent in pre-market trading Monday.
EnerNOC recently said first-quarter revenue increased slightly from the same period a year earlier, while its year-over-year net loss widened as operating expenses rose across the board.
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