EnerNoc (ENOC) In 65MW Demand Response Deal With Idaho Power

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02:21:18 pm on March 4, 2009

EnerNoc (ENOC), an emerging, yet still unprofitable demand response leader just picked up a 65MW deal with Idaho Power.  ENOC will enable and manage a network of commercial and industrial facilities throughout Idaho Power’s service area to reduce electricity demand during system peaks.  ENOC’s job is to bring supply and demand into greater balance, potentially reducing prices during peak demand times.  They have a network of operations centers that automate the process, curtailing non essential electricity usage and passing along the savings to the customer while taking a cut themselves. 

“Investing in this demand response initiative helps us meet our commitment to our customers to continue to provide responsible, reliable, fair-priced energy and continue to diversify our power portfolio. By choosing EnerNOC’s demand response application, which has been successfully deployed by many of our respected industry peers, we get the firm capacity we need to respond to peak load demands during our summer peak season,” said Warren Kline, Customer Service and Regional Operations Vice President of Idaho Power.

ENOC is trading up 8% today with good volume and bouncing off support of the 50 day moving average.  With a nice consolidation pattern over the past 6 weeks, it may be poised for a big breakout above 12 soon.

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