Demand response is on the move in New England.
The executive branch of the state of Maine is the latest customer to get on board with EnerNoc’s demand response network. The Boston-based company already has six Maine facilities enrolled, including administrative buildings and correctional institutions.
Maine’s half-dozen facilities joins more than 6,500 sites, from government buildings to commercial spaces, that use EnerNoc’s DemandSMART network to manage power consumption.
“The State of Maine's participation in demand response is good for all Maine residents," Maine’s governor, John Baldacci, said in a statement. "We are helping ensure a reliable grid and the direct benefits will lower the cost of electricity to State facilities and the cost of operating the State government."
In the state capitol of Augusta, for example, four administrative buildings expect to save more than 200 kilowatts of electricity by having the temperature adjusted on the chilled water systems. Maine is expected to expand the program over time.
EnerNoc’s customers are paid a fee for reducing demand when the grid is at peak capacity and get a drop in their power bill, while the company is paid by utilities to curb power in those peak power situations. Maine currently expects to see approximately $74,000 in payments annually.
EnerNoc's customers include the city of Boston, the Salt River Project in Arizona, Allegheny Power, Baltimore Gas and Electric, Delmarva Power and Light Company, Idaho Power and Potomac Electric Power Company.
Besides growing its power providers, EnerNoc is also busy expanding its offerings by scooping up other companies. Most recently it bought Cogent Energy in December to accelerate the push into building management and it purchased eQuilibrium Solutions, a carbon accounting company, in 2008. Historically, EnerNoc has garnered its revenue from demand response services but it is obviously looking to provide a greater suite of services.
EnerNoc reported $190.7 million in revenue for 2009, compared to $106.1 million for 2008. The company currently manages more than 3.5 gigawatts of power.