MCG Energy’s 2022 Energy Industry Overview

At the annual MCG Energy Users Conference on October 20, MCG Energy co-founder and CEO Mike Prickett discussed the current state of the energy industry, noting that 2022 was MCG Energy’s largest year of growth. With initiatives at play stemming from the 2021 Infrastructure Investment and Jobs Act, the energy industry is strong and poised to make further advances. MCG Energy is ready to step up and help customers with our leading outage management solution, the Versify Outage Management System (OMS), and all of our other products.

More than 20 MCG Energy specialists and representatives from Paragon, Innotap, and Versify were there to discuss our products and to meet conference attendees. Like 2020 and 2021, the 2022 Virtual Users Conference was entirely remote. As conferences are planned and scheduled a year in advance, there was too much uncertainty due to COVID to plan an in-person energy conference in 2022. We are happy to announce that the 2023 energy software conference will be a hybrid in-person and online event. The goal of the annual conference is to review MCG Energy’s latest updates, current status, and roadmap for the future. MCG Energy wants to clearly understand what customers want in products and services.

2023 Energy Software Event feedback, questions, and ideas?

MCG Energy Updates

Among our most popular new offerings is the Paragon Gas Scheduling module. MCG Energy’s flagship application, Integrated Asset Manager (IAM), has also been enhanced for cost allocation and settlement of Distributed Energy Resources (DERs) as they come online in ISO and RTO markets. DERs will be one of the most significant and growing elements of the industry landscape for years to come.

In addition to the energy industry, in 2022 other business sectors have been keenly interested in MCG Energy’s Versify Operator Log (OpLog) and Paragon Risk software. Purchases outside of the energy industry show the versatility of our products in other businesses. While MCG Energy is proud to be the fastest-growing provider of hosted energy software solutions, we are continuing to explore ways to enhance our products to benefit all users.

Since 2020, MCG Energy has maintained regional offices while moving increasingly toward a remote business model. Many companies that did the same have begun shifting employees back into the office. MCG Energy plans to continue to maintain almost entirely remote operations.

MCG Energy has found that working remotely is great both for our team and our operations. For example, we have found our energy software developers are much more efficient working from home. This also creates opportunities for energy software careers across the country, allowing us to seek the best employees without limiting ourselves to candidates living close to the office.

The Latest News About MCG Energy

At the time of the conference in October, MCG Energy was completing its annual auditing program. The resulting energy compliance reports will be available to customers before the end of the year and include SOC1, SOC2, NIST (FISMA), and GDPR. MCG Energy has also received sponsorship by the U.S. Department of Energy to become FedRAMP authorized. This is a complex process, more news on the timing of MCG Energy’s FedRAMP authorization will be available soon.

MCG Energy continues to foster growth through extensive investment in all of our products and services. The company has allocated a significant amount of our capital expenditures and over 40,000 hours in research and development for security and infrastructure.

MCG Energy’s portfolio is a combination of organically built energy software products along with acquisitions that have been integrated with the MCG Energy Software Suite. Prior to the pandemic, MCG Energy acquired four energy companies; during the pandemic, energy company acquisitions were not feasible. In 2023, we are again actively pursuing potential acquisitions while also continuing to enhance our existing products.

As the MCG Energy Software Suite continues to evolve, we are further consolidating scheduling, outage management, and risk management products; expanding DER optimization; and extending further into retail energy to enhance wholesale energy offerings.

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The Future of MCG Energy Events

Looking towards the future of MCG Energy’s events, we are pleased to announce that MCG Energy’s 2023 Users Conference will be held in person. Follow us on LinkedIn or email events@mcgenergy.com to stay updated on events and energy industry developments.

MCG Energy has experienced high conference participation in the virtual format. Therefore, in order to accommodate everyone, we will continue to provide the option of online attendance in a hybrid event. We value your thoughts and input on future conferences, so please contact us and share what you’d like to see in 2023 and beyond!