Importantly, our growth in PJM is driven not just by more megawatts for us to manage, but by strong upward pricing trends that we see in the megawatt weighted system wide clearing prices of PJM capacity over the next four years. Specifically the megawatt weighted price of roughly 87% a megawatt day in 2012, 2013 which is the low point of clearing prices during this period, increases to $123 million a megawatt day in 2013, 2014, and $232 a megawatt day in 2014, 2015. And finally, $156 megawatt day in 2015, 2016, this represents a 79% price increase between 2012 and 2015.We are obviously pleased with aggregated asset base that is successfully locked in that type of pricing uplift. We are also pleased that we continue to increase our operational leverage by reducing the cost of managing each new megawatt as the company continues to scale. Specifically, as of June 30, 2012, our megawatts under management per full time demand response employee, has increased to 19.2 versus 18.0 at the end of Q1. So while the fees were set to collect for managing megawatts in PJM are about to increase in our favor. Our cost of managing those megawatts has been decreasing steadily.
EnerNOC's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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