EnerNOC (ENOC) Lands Energy Efficiency Contract With SoCo Edison

EnerNOC (ENOC) announced yesterday morning that it landed a contract with SoCo Edison to provide its EfficiencySMART application to SCE customers through the end of 2012.  As part of the contract SCE will subsidize some of the equipment for commercial customers allowing them to install the equipment and receive data for a year at a greatly reduced cost.  The EfficiencySMART systems provide valuable feedback on energy usage to EnerNOC analysts which allow them to make recommendations to conserve energy which often leads to a reduction in energy expenses of up to 10% according to the company.

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"With our track record of successfully deploying data-driven energy efficiency programs, we’re seeing increased interest from utilities to leverage the power of our unique applications to meet their energy efficiency targets," said Tim Healy, Chairman and CEO of EnerNOC. "Using data to achieve persistent energy savings is a practical, cost-effective solution that is perfectly aligned with national, regional, and local energy efficiency objectives."

Shares of ENOC didn’t move up on the news yesterday and remain fairly weak technically following the plunge on accounting concerns a few weeks back.  While I like ENOC in the long term as a demand response leader, it’s best to be patient for now. 

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