C3 Energy, EnerNOC, FirstFuel, Opower Applaud Congressional Action on Energy Innovation
December 07 2015 - 8:34AM
C3 Energy, EnerNOC, Inc., FirstFuel Software, and Opower Inc.,
leading providers of energy management software, congratulate the
US House of Representatives for passing Section 1107 (21) of HR 8,
which encourages utilities to deploy advanced energy analytics
technology and requires state regulators to consider allowing
utilities to earn a rate of return on their investments in such
technology. This technology helps energy consumers reduce their
bills and helps utilities better manage the grid, all of which
improves the safety, reliability, efficiency, affordability, and
emissions profile of the electricity and gas sectors.
“Energy intelligence software empowers consumers with the tools
and understanding to lower their energy costs, and enables
utilities to engage their customers to achieve improved grid
outcomes,” said Tim Healy, Chairman and CEO of EnerNOC. “I commend
Chairman Fred Upton and the many supporters of this provision for
taking action to ensure more Americans benefit from this
cutting-edge technology.”
"It's vitally important that our regulatory policies reward
utilities for investments that deliver the best outcomes for their
customers and for the advancement of the grid," said Alex Laskey,
President and Co-Founder of Opower. "Congressional leaders
have sent an important message: that the regulatory policies of
yesterday shouldn't stand in the way of utilities that are making
the transition to a cleaner and more customer-centric energy
future."
“Utilities around the country have been innovating and planning
investments in customer energy intelligence,” said Swapnil Shah,
CEO of FirstFuel. “This provision will enable their investments to
be realized appropriately by their shareholders, as well as their
customers.”
“State of the art technology leveraging big data, cloud
computing, and machine learning is now available to optimize the
power generation and distribution value chain,” said Ed Abbo, C3
Energy President and CTO. “Section 1107 (21) will help states
accelerate the technology adoption curve and the transition to a
smarter, more efficient, and more sustainable energy system.”
By passing this provision, the House has taken a critical step
toward addressing an outdated regulatory barrier that stands in the
way of large-scale adoption of this technology and, in turn,
increased economic benefits for all Americans.
While the software industry has evolved significantly in recent
years, and software solutions are now predominantly cloud-based, or
delivered through web browsers as Software-as-a-Service (SaaS),
regulatory accounting practices have lagged. Utilities are allowed
to earn a rate of return on “on-premise” software, or software that
can be physically possessed and used on a CD-ROM or a disk, but
they cannot earn a rate of return on SaaS. This creates a misguided
incentive for utilities to take physical ownership of software that
needs to run on expensive hardware, instead of using SaaS. SaaS
solutions reduce maintenance and overall costs, facilitate the
ongoing installation of software upgrades by vendors, and simplify
operations for users.
This legislation also recognizes that new poles and wires—for
which utilities can earn a rate of return— are not always the
solution, and that challenges faced by our modern electric grid can
be increasingly solved by software. Allowing utilities to earn a
similar rate of return on SaaS to pole-and-wire investments will
level the playing field, and ensure that the most cost-effective
investment is made.
Our companies are leading providers of cloud-based energy
analytics software:
- C3 Energy’s advanced analytics platform and suite of enterprise
software applications deliver end-to-end solutions across the
entire smart grid, from energy grid capital asset allocation,
transmission, distribution, and advanced metering, to the customer
experience and energy efficiency programs. C3 Energy products
enable utility operators to realize the full benefit of their smart
grid and energy system investments.
- EnerNOC is a leading provider of cloud-based energy
intelligence software (EIS) and services to thousands of enterprise
customers and utilities globally. EnerNOC has saved its customers
more than $1 billion to date.
- FirstFuel provides customer intelligence as a
software-as-a-service to large utility companies and government
agencies across North America and Europe. With an industry-leading
combination of building science, data science, and software,
FirstFuel helps utilities serve nearly one million business
customers, with analysis across nearly 2 million meter points, and
has identified five terawatt-hours of energy savings.
- Opower is an enterprise software company that is
transforming the way utilities engage with their customers.
Opower’s cloud-based software has been deployed to more than 95
utility partners around the world, reaches more than 50 million
households and businesses, and has helped consumers save more than
$1 billion on their energy bills.
For media inquiries, please contact Robin Woodcock at EnerNOC at
(617) 692-2601, Alex Kotran at Opower at (330) 607-5589, Katie
Kennedy at FirstFuel at (617) 426-2222 and Kim Dion at C3 Energy at
(650) 503-2200.
Safe Harbor Statement
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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
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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,
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