Thursday, January 29, 2009

Xcel Energy Selects EnerNOC for Eight-Year Demand Response Contract in Colorado (ENOC; XEL)

Xcel is not kidding around when it comes to efficiency and alt. energy. From ENOC's point of view, it's a great validation and they can be pretty sure the checks will clear.
EnerNOC, Inc., a leading developer and provider of clean and intelligent energy solutions, today announced that it has entered into an eight-year contract with Public Service Company of Colorado, an Xcel Energy company, to provide up to 44 megawatts of demand response capacity in Xcel Energy's Colorado service territory. The contract allows EnerNOC to begin delivering capacity as soon as it is able to sign up customers.

"We conducted a rigorous analysis of service and technology providers and concluded that EnerNOC's capabilities and strong track record of delivering demand response capacity to utilities will enable us to roll out a cost-effective, innovative offering to benefit our customers," said Fred Stoffel, Xcel Energy.

Under this contract, EnerNOC will enable and manage a network of commercial, institutional, and industrial facilities to reduce electricity demand during periods of peak demand or high wholesale electricity prices. EnerNOC will install its technology - free of charge - at each participating facility and provide year-round payments to participants for being "on call." When Xcel Energy calls a demand response event, EnerNOC will dispatch its network to reduce non-essential energy usage and collect real-time data to verify that each facility is achieving its energy reduction goals....MORE