EnerNOC buys Australian demand response company Energy Response
This acquisition strengthens EnerNOC's presence in Western Australia's Wholesale Electricity Market, where EnerNOC now has the opportunity to deliver 240 MW of demand response capacity
Boston, Mass., July 7, 2011 — Demand response provider EnerNOC, Inc., acquired Energy Response Pty Ltd, the largest demand response provider in Australia and New Zealand.
This acquisition strengthens EnerNOC's presence in Western Australia's Wholesale Electricity Market, where EnerNOC now has the opportunity to deliver 240 MW of demand response capacity in the 2012-2013 delivery year, up from its initial position of 100 MW.
The acquisition also marks EnerNOC's entry into Eastern Australia's National Electricity Market and the New Zealand Electricity Market, where favorable opportunities for demand response and energy efficiency are emerging.
Energy Response is active in capacity, energy, and ancillary services markets and has established the largest network of commercial, institutional, and industrial demand response providers across Australia and New Zealand.
This acquisition will enable Energy Response's existing customers to access EnerNOC's industry-leading applications, view real-time energy consumption data, and receive enhanced demand response dispatch support through EnerNOC's Network Operations Center. In addition, EnerNOC will offer its full suite of energy management applications to a wider base of electricity users.
EnerNOC anticipates this acquisition to be dilutive to earnings in 2011 and 2012, and accretive beginning in 2013. EnerNOC will provide more detail on its financial outlook as well as this transaction as part of its upcoming conference call on its second quarter 2011 financial results.