EnerNOC (ENOC) Spikes On Participation In London Smart City Project

Shares of Enernoc (ENOC) popped about 10% yesterday on news that it will participate in the UK Power Networks Low Carbon London project which is a three year “smart city” initiative.  ENOC will be providing its DemandSMART systems to commercial and industrial users around the city of London.  The project will also incorporate the use of electric cars, heat pumps and smart meters.

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“Demand response is a proven and scalable solution to create more efficient and reliable electricity networks,” said David Brewster, President of EnerNOC. “We are excited to assist UK Power Networks and the City of London to adopt best practices in active network management and achieve ambitious sustainability goals that will help lead the UK toward a low carbon energy future.”

While shares of ENOC have spiked in recent days, the stock is still trying to find a bottom after brutal months of Oct/Nov in which the stock fell more than 20%.

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