Edison International introduces new subsidiary to largest energy
users nationwide
Edison International (NYSE:EIX) today introduced a new business that
will focus on meeting the energy needs of the largest users of energy
nationwide. The new business, Edison Energy, is based in Irvine, Calif.,
and will collaborate with clients throughout the country to identify and
execute opportunities to help them lower costs in managing their entire
energy portfolio, reduce complexity, and deliver on increasingly
important sustainability objectives.
“Edison International has a long history of leading the way in
innovative solutions to energy challenges, both through our regulated
businesses and our experience in competitive markets,” said Ted Craver,
chairman and chief executive officer of Edison International. “Large
energy users increasingly need a strategic partner to help them navigate
through the diverse energy marketplace. Edison Energy will provide the
expertise that will enable large commercial and industrial energy users
to explore the many options available to them and to select the best
portfolio of alternatives to power their operations.”
At an event held today at the University of California, Irvine, Edison
Energy unveiled insights from an extensive study Edison International
conducted into the future energy needs of large businesses. The research
highlighted the challenges facing large energy users, including
increasing complexity and cost, greater volatility, multiple regulatory
jurisdictions, rapidly evolving technology choices and increasing
environmental concerns. The company presented an overview of the
research on the changing energy marketplace titled The
New Energy Future – Challenges and Opportunities in Corporate Energy
Management.
The research indicated that companies are concerned about managing costs
and volatility, demonstrated by a finding that 25 percent of companies
surveyed do not have an accurate overview of their total energy spend.
In addition, the study found that only 6 percent of all companies
believe they have captured all the energy opportunities available to
them. A key finding for Edison Energy, the study showed an absence of
trusted advisors and partners to help companies steer through the
complex array of energy options, with more than 40 percent of companies
stating the lack of a credible partner as a major barrier to making new
investments in energy.
Customers, especially large commercial and industrial companies, have
more energy choices than ever, driven by a complex, fragmented and often
confusing mix of technologies, business models, and pricing structures
available in the market.
“We are helping clients develop clear, enterprise-wide energy strategies
and the detailed roadmap to realize those strategies for their
businesses,” said Allan Schurr, president of Edison Energy. “Edison
Energy will focus on meeting the needs of the country’s largest energy
users in a variety of sectors such as commercial buildings, data
centers, retail, industrial, health care and educational institutions.
“Edison Energy has the capability to assess a customer’s energy strategy
and the technical and engineering services needed to realize their cost,
resiliency and sustainability objectives,” said Schurr. “Our heritage,
resources, experience and entrepreneurial business model enable us to
deliver the insights, integration and ‘Energy-as-a-Service’ approach to
help make energy simple again.”
Edison Energy has been building its capabilities to meet the needs of
the largest energy users with a combination of recent strategic
acquisitions in energy consulting, efficiency and engineering, energy
procurement and data analytics, as well as renewable energy advisory and
procurement. Edison Energy already serves one in four of the FORTUNE 50
companies and employs more than 200 people. “Our existing client base
illustrates the strong foundation of Edison Energy and the future
opportunity to make ‘Energy-as-a-Service’ a reality for the nation’s
largest users of energy,” commented Schurr.
About Edison Energy
Edison Energy is an independent advisory and services company with the
capabilities to develop and integrate an array of energy solutions for
the largest energy users nationwide. Edison Energy is focused on helping
the largest energy users simultaneously reduce their energy costs,
improve the environmental performance of their operations, ensure energy
resiliency and manage exposure to energy price risk. We do that by
providing insight, integration and an approach that simplifies through
Energy-as-a-Service. Edison Energy has the heritage, resources,
experience, technology and entrepreneurial business model to improve the
way commercial, industrial and institutional organizations procure, use,
and manage energy. Edison Energy makes energy simple again for the
largest energy users.
Three recently acquired companies that are now part of the Edison Energy
business are:
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ENERActive Solutions, based in Asbury Park, N.J., is a full-service
energy consulting, engineering, and project development firm
specializing in the analysis, design, development, and installation of
energy efficiency projects, building system optimization projects, and
power generation solutions for optimization and environmental control.
Clients include colleges, universities, K-12 schools, government, high
tech/data centers, industrial sites, hospitals and health care
facilities.
-
Delta Energy Services, based in Dublin, Ohio, provides custom energy
consulting services to large energy users, typically corporations with
at least $1 billion in revenue. Consulting areas include energy
procurement, energy data management, renewable energy integration and
energy policy analysis.
-
Altenex, based in Boston, Mass., provides comprehensive renewable
energy advisory and procurement services to its clients, featuring a
proprietary market access platform where over 500 renewable energy
developers with more than 4,500 wind, solar, biomass and hydro
projects compete for their clients’ business. The company typically
negotiates long-term power purchase agreements for renewable energy on
behalf of their large corporate clients.
These three newly acquired companies join SoCore Energy, a Chicago-based
market leader in commercial and industrial solar portfolio development
that was acquired by Edison International in 2013. SoCore has installed
hundreds of solar power systems in 17 states at multisite retailer
sites, REITs and industrial companies, as well as electric cooperatives
and municipalities.
Edison Energy is not the same company as Southern California Edison, the
utility, and Edison Energy is not regulated by the California Public
Utilities Commission.
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