EnerNOC Software Adds New Functionality for Improved Financial Planning and Energy Budget Management
March 05 2015 - 8:35AM
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.
About EnerNOC
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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Safe Harbor Statement
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, including
financial savings, may constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
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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.
CONTACT: EnerNOC Media and Investor Relations:
Robin Deliso
617.692.2601
news@enernoc.com
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