Healy went out of his way in the Baird Conference to downplay the role of Demand Response within the PJM Network, relative to the growth opportunities the company is facing. He said that International is now 20% of revenue, and I thought he inferred (not sure) that this has fully displaced the recent PJM scaleback.
In support of this -- when the PJM scaleback happened, Enernoc Management was quick to reaffirm guidance.
So I want to hear with IR has to say (for what it's worth, they are limited in what they can disclose), and get some indication from the company about what these tarriff revisions are, how they impact ENOC, and whether they will pass. Then, we need to understand the role of this revenue in ENOC's going forward earnings.