EnerNOC, Inc. has acquired Energy Response Pty Ltd, the largest demand response provider in Australia and New Zealand. This acquisition expands EnerNOC’s presence in Western Australia’s Wholesale Electricity Market, where EnerNOC now has the opportunity to deliver 240 megawatts of demand response capacity in the 2012/2013 delivery year, up from its initial position of 100 megawatts. 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. “Demand response provides a valuable service to electricity users and utilities at a fraction of the cost of traditional supply-side measures," said Ross Fraser, founder and chairman of Energy Response. “That is why Energy Response is committed to providing the most advanced range of demand-side resources available, and it is also why we have worked so diligently to integrate these resources into electricity markets in Australia and New Zealand.”
This acquisition will enable Energy Response’s existing customers to access EnerNOC’s 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.
