EnerNOC Software Adds New Functionality for Improved Energy Expense Management
BOSTON, Mar. 5, 2015 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), today announced the latest release of its enterprise energy intelligence software platform. The new release includes enhanced visibility into real-time energy costs and patent-pending algorithms enabling energy managers and financial decision makers to make more accurate budget accruals.
Traditionally, companies have had to manually estimate accruals and rely on average blended rate unit costs, which ignore the oftentimes dramatic impact that peak demand charges can have on total costs. EnerNOC's software maps overall consumption data and peak demand data to a customer's specific utility tariff, resulting in accurate cost accruals that replicate a customer's final bill.
"Many customers are still reeling from the surprise impact that last year's Polar Vortex had on energy budgets. Getting that information 45 days after energy is consumed is just too late," said Micah Remley, Senior Vice President of Product at EnerNOC. "This functionality is truly unique in the market. Customers lack visibility into energy costs during utility billing cycles even though energy is a major cost driver. EnerNOC's software now provides month-to-date visibility, enabling smarter, more informed operational decision-making."
These capabilities expand upon the predictive algorithm introduced last year that allows users to predict peak demand charges with a high degree of accuracy up to 24 hours before peak demand costs are set, allowing staff to plan and execute alternative operating schedules when the economics warrant such action.
Today's release also includes real-time and day-ahead index price, or locational marginal pricing (LMP), for several U.S. regions, which enterprises can view in 30-day increments for budget planning and to manage exposure to market price risk. EnerNOC's software provides alerts related to index prices, indicating to users when prices cross a certain threshold and allowing time to take action to reduce costs and further mitigate risk.
"To remain competitive, organizations must be vigilant about cost control across all business units, and be confident in the accuracy of their budgets and forecasts. For the first time, enterprises have the ability to see how energy use affects their operating costs not just every hour - but down to every five-minute interval of each day - offering greater opportunity to avoid budget-busting energy bills, manage risk, and plan accurately. By translating everything into our customers' main language - currency, not kilowatts - EnerNOC empowers enterprises to easily and continuously optimize their energy use," said Tim Healy, Chairman and CEO of EnerNOC.
To learn more about the new features of the platform, go to www.enernoc.com/solutions.
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 budgeting and procurement, utility bill management, facility optimization, visibility and reporting, project tracking, demand management, and demand response. EnerNOC's EIS solutions for utilities help maximize customer engagement and the value of demand-side resources, including demand response and energy efficiency. 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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