Edison International 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, California, 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 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 CEO 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.