EnerNoc (ENOC) Gets 4 More Demand Response Contracts Totaling 250MW

EnerNoc (ENOC) continues to rack up the utility demand response contracts and the stock is reflecting it, up nearly 50% in March alone.  This morning the company is announcing 4 new contracts in Maryland totaling 250 MW with Allegheny Power, Baltimore Gas & Electric, Delmarva Power and Light and Potomac Electric Power which brings the total to 7 new new contracts in the first quarter 2009.

In November of last year the Maryland Public Service Commission directed the 4 utilities to request proposals for additional capacity to address the possibility of supply shortages between 2011 and 2016 and noted that demand response could play a significant role in the solution.  The result was EnerNoc winning 60% of the total capacity granted.

“Our scalable demand response solutions enable us to handle multiple events in multiple regions, providing utilities and grid operators with a flexible, capital-efficient alternative to traditional peaking power resources,” said Darren Brady, Chief Operating Officer of EnerNOC. “We continue to invest in our technology, as we feel that it gives us an advantage when opportunities like the Maryland Gap RFPs emerge.”

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