BOSTON, Aug. 20, 2012 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), the world's leading provider of demand response, today announced that Genesis Energy, a national electricity retailer serving the Wellington, Wairarapa, Kapiti Coast and Manawatu areas of New Zealand's Lower North Island (LNI), has signed a 20 MW DemandSMART contract to address transmission constraints, while at the same time, diversifying Genesis Energy's offerings to its commercial and industrial customer base. Under the terms of the contract, the programme began in July 2012, with an opportunity to extend to 50 MW in two years' time.
In 2011, more than 70 percent of New Zealand's energy came from renewable resources. Wind generation is expected to climb from roughly five percent of overall capacity today to as much as 20 percent of the overall resource mix by 2030. Current transmission constraints and the intermittency of some renewable sources, however, have historically created price spikes. By using demand response during times of peak demand, Genesis will be able to help lower overall electricity prices, while creating a valuable revenue stream for its participating customers.
"New Zealand has embraced a forward-thinking approach to energy, leveraging a full spectrum of solutions, from renewables to smart grid technologies, to reduce reliance on fossil fuels," said Jeff Renaud, EnerNOC's Director of Australia & New Zealand. "Genesis Energy is leading the pack, and we're proud to partner with them to provide more customers in New Zealand with our DemandSMART application and service."Under the Genesis Energy-EnerNOC DemandSMART programme, Genesis Energy customers will receive payments for responding to demand response dispatches as well as real-time access to their energy data, which provides greater visibility into overall operational efficiency and helps identify energy savings opportunities. EnerNOC already has a strong track record of delivering demand response in the New Zealand's Interruptible Load Programme, which operates in the country's Instantaneous Reserve Market. That programme was recently recognized for Outstanding Program Achievement by the US-based Peak Load Management Alliance (PLMA).
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV