EnerNOC (ENOC) Gets 8 Year Demand Response Contract With Xcel Energy (XEL)

EnerNoc (ENOC) continues to expand its demand response portfolio.  About a week ago the company announced a deal with the City of Boston.

“The City of Boston is a hub of clean tech innovation, and EnerNOC is a shining example of Boston-based companies that are making an impact on the way the world uses energy. Demand response allows the City to implement smart energy saving measures and make an immediate contribution to the overall reliability of our region’s electric power grid. This is a win-win strategy that puts dollars back into our budget,” said Mayor Thomas M. Menino.

This morning the company is announcing a deal with Xcel Energy (XEL) that adds an additional 44MW to its portfolio.  Under the deal EnerNOC will enable and manage a network of commercial, institutional and industrial facilities to reduce electricity demand during hours of peak demand or high wholesale prices.  Tim Healy, EnerNOC’s Chairman and CEO, said, “By utilizing demand response to economically meet peak demand in its service territory, Xcel Energy is reinforcing its position as an energy industry leader.”

EnerNOC’s demand response solutions allow network participants to identify demand reduction strategies and implement energy savings measures in near real time.

Leave a Reply

Your email address will not be published. Required fields are marked *