EnerNOC Helps Enterprise Customers Accurately Predict Energy Usage and Costs With Latest Software Release
Boston, Jul. 15, 2014 – EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), today announced the release of its newest software update. This update includes the Company's new predictive energy algorithm and tariff engine, empowering enterprise customers to predict energy costs with a high degree of accuracy. The new capabilities provide a granular view into future energy usage and spend to help users optimize consumption and reduce peak demand charges, which can comprise 30% or more of total monthly electricity costs.
"Whether a customer has one site, ten sites, or 1,000, the demand management capabilities in this software update are beneficial," said Micah Remley, Vice President of Product Strategy and Technology at EnerNOC. "This release takes what we do exceptionally well in demand response at the system level, arms customers with the information to understand when they are at risk of setting a new individual peak - and how much money could be saved by avoiding it - and empowers them to be proactive in taking control of energy costs and mitigating expenses."
The addition of predictive capabilities to EnerNOC's energy intelligence platform, coupled with customer-specific tariff data from Genability, which the Company invested in earlier this year, gives users the visibility they need in financial terms to make informed operational decisions, such as when it is worth shifting load or curtailing energy intensive activities. Independent research firm Verdantix notes, "EnerNOC is placing significant emphasis on the actual cost of energy as opposed to the absolute level of power consumption." (Verdantix, EnerNOC Gets the Focus Right With New Software Strategy, June 2014)
"To control the costs of most commodities, it's about managing price per unit and how much you use overall. Energy is unique because there's a third dimension - when you use it - that has a significant impact on your total bill. EnerNOC's predictive analytics engine gives enterprises the unparalleled ability to plan ahead and make small but timely operational adjustments that unlock big savings," said Tim Healy, Chairman and CEO of EnerNOC.
This update also integrates EnerNOC University, EnerNOC's library of training materials, into the application, allowing users to consume on-demand webinars, how-to videos, and other instructional content.
EnerNOC is a leading provider of cloud-based energy intelligence software (EIS) and services to thousands of enterprise customers and utilities globally. EnerNOC's EIS solutions for enterprise customers improve energy productivity by optimizing how they buy, how much they use, and when they use energy. EIS for enterprise includes supply management, utility bill management, facility optimization, visibility and reporting, project management, demand response, and demand management. EnerNOC's EIS solutions for utilities help maximize the value of demand-side resources, including fully outsourced and utility- managed demand response and energy efficiency programs that drive customer engagement. EnerNOC supports customer success with its world-class professional services team and a Network Operations Center (NOC) staffed 24x7x365. For more information, visit www.enernoc.com.
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Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to the future growth and success of the Company's energy intelligence software, and the benefits that customers may derive from technology updates or enhancements to that software, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to under the section "Risk Factors" in EnerNOC's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as other documents that may be filed by EnerNOC from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. EnerNOC is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.