A unit of PPL Corporation (PPL), PPL Electric Utilities Corporation, said it has signed an agreement with EnerNOC Inc. (ENOC), to receive 300 megawatts of demand response capacity. This contract is subject to the approval of the Pennsylvania Public Utility Commission.
Under the pact with PPL, EnerNOC will use its DemandSMART network of commercial, institutional, and industrial customer sites throughout PPL Electric Utilities' service territory to assist the utility in achieving the load reduction targets established by Pennsylvania Act 129.
EnerNOC’s DemandSMART is a comprehensive demand response application used to manage each utility customer’s site in real time and ensure that its network achieves the targeted demand reduction.
EnerNOC Inc., a leading provider of demand response applications and services, develops a customized energy reduction plan for each end-use customer site in its network and connects each site to its Network Operations Center, at no cost or risk to the participating customer.
Over the past several years, EnerNOC has built a significant portfolio of demand response capacity in Pennsylvania, and with this contract, the company’s network of commercial, institutional, and industrial sites will deliver more value to Pennsylvanian ratepayers.
EnerNOC believes that leveraging demand response is the most reliable and cost-effective way to achieve Pennsylvania's goal of reducing energy consumption and demand. With this partnership, EnerNOC expects to continue a long tradition of delivering proven, integrated demand-side resources to its utility customers, like PPL, and help their customers experience the bottom-line benefits of better energy management.
PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, provides electric delivery services to 1.4 million customers in 29 counties of eastern and central Pennsylvania.
Headquartered in Allentown, Pennsylvania, PPL Corp. is a diversified utility company, primarily generating energy from power plants, marketing wholesale or retail energy and providing electricity to customers. Along with its subsidiaries, the company provides regulated utility services to about 10 million customers in England, Wales, Pennsylvania, Kentucky, Virginia and Tennessee. It controls nearly 19,000 megawatts of regulated and competitive generating capacity in the United States.
We maintain our Neutral’ recommendation on PPL shares. PPL Corp. currently has a short term Zacks #3 Rank (Hold).
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