Demand response provider EnerNOC, Inc. (NASDAQ: ENOC) has acquired Energy Response Pty Ltd, the largest demand response provider in Australia and New Zealand.
Energy Response has established the largest network of commercial, institutional, and industrial demand response providers across the two countries.
This acquisition significantly increases EnerNOC’s presence in Western Australia’s Wholesale Electricity Market, where it now has the opportunity to deliver 240 megawatts (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.
Last weekend the Australian government unveiled plans for a carbon tax on the country’s largest greenhouse gas emitters. If approved by Parliament, it will take effect in July 2012 and lead up to the start of a nationwide carbon trading scheme in 2015.
New Zealand already has a carbon tax in place – the only one outside of the European Union.
"As Australia and New Zealand move toward a lower-carbon energy future, solutions like demand response, carbon management, and data-driven energy efficiency will become even more important, both to electricity users and the nations’ electricity grids," says David Brewster, President of EnerNOC.
EnerNOC anticipates the acquisition of Energy Response to be dilutive to earnings in 2011 and 2012, and accretive beginning in 2013.
This is the 11th acquisition made by EnerNOC in recent years as the company expands to cover the full spectrum of energy management services.
In May, EnerNOC announced a five-year deal with a British utility, further securing its foothold in the European market.
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