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EnerNOC Shares Drop After Contract Loss



By AP
14 March 2008 @ 02:19 pm EST

NEW YORK - EnerNOC shares are falling Friday afternoon after the California Public Utilities Commission denied a contract between the energy managment company and Southern California Edison Co.

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ENOC 7.15 0.59

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Boston-based EnerNOC said in a filing with the Securities and Exchange Commission that under the blocked agreement, EnerNOC would have supplied Southern California with an additional 30 megawatts of capacity by the end of 2008.

EnerNOC currently has a separate contract with Southern California that is still in place. The company plans to reapply for contract approval.

The stock is down 66 cents, or 5.9 percent, to $10.35, the day after EnerNOC said some employees and board members are being sued in a class-action lawsuit for allegedly failing to disclose "material information" in regulatory filings.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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