Boston, MA, Mar. 4, 2008 — EnerNOC Inc. announced that it has entered the final stages of two four-year contracts with ISO New England Inc. (ISO-NE) for demand response capacity in Southwest Connecticut.
The emergency contracts, which commenced operation in June 2004 to address acute electric transmission reliability issues, have demonstrated the effectiveness of demand response as a viable, quick-to-market grid stability solution for grid operators and utilities, said EnerNOC. The company also announced plans to maintain up to 170 MW of demand response capacity that it currently manages in Connecticut under the two contracts with ISO-NE and another with Connecticut Light and Power (CL&P), once those contracts expire, through a new contract with CL&P.
EnerNOC’s contracts with ISO-NE for capacity in the Southwest Connecticut region expire on May 31, 2008. ISO-NE has elected not to exercise its option to extend the contracts for an additional year. Under the terms of the original agreements, the assets under management, totaling nearly 85 megawatts, remain under the control of EnerNOC. The majority of these assets will be redeployed under the new contract with CL&P.
The new contract between EnerNOC and CL&P, which expires on May 31, 2010, will assume 60 MW of EnerNOC’s existing demand response capacity as of June 1, 2008. This represents all of the capacity from EnerNOC’s contracts with ISO-NE that is located within CL&P’s service territory. Starting January 1, 2009, the new contract will assume 110 MW of additional demand response capacity that EnerNOC currently manages under an existing contract with CL&P. The new contract will maintain this full 170 MW until the start of the Forward Capacity Market in June 2010.
The new contract is subject to approval by the Connecticut Department of Public Utility Control.
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