EnerNOC signs contract with Tennessee Valley Authority

Boston-based EnerNOC (Nasdaq: ENOC) announced today that it signed a deal with the Tennessee Valley Authority for demand response services.

Under the agreement, EnerNOC said it would provide a minimum of 110 megawatts of demand response capacity. Financial terms of the contract were not disclosed.

"We laid the groundwork last summer for a successful deployment with TVA," said Tim Healy, chairman and CEO of EnerNOC.

Last summer, EnerNOC said it delivered greater than 101 percent average performance over six Tennessee Valley Authority-dispatched demand response events.

"We believe that our technology provides us with a distinct advantage and the ability to meet the complex requirements of demanding markets, like TVA. This contract represents another great opportunity for us to showcase the positive impact of demand response both for utilities and ratepayers."

EnerNOC said the Tennessee Valley Authority has a peak demand of approximately 33,500 MW, providing power to large industries and 159 power distributors that serve approximately 8.8 million consumers in seven southeastern states.

During the heat wave of 2007, EnerNOC said the Tennessee power company purchased as much as 20 percent of its energy from other suppliers.

EnerNOC said it can deliver demand response capacity within five minutes of notification. The company said it can remotely manage thousands of end-user sites from its network operations center in Boston.

EnerNOC said its contract with the Tennessee Valley Authority is effective immediately and is not subject to additional regulatory approval.