Basically, it is how a horse uses his energy during a race. Front runners will generally expend more energy in the early part of a race will closers will do so in the stretch.
Total Energy is defined as either the sum of a horse's velociy at the second call added to it's velocity in the third fraction, or the sum of it's velocity in each of the three fractions.
Say a horse ran 46 25 on the lead at 6 furlongs.
It's early velocity is 57.39 fps, and it's late velocity is 52.80 fps.
Total energy is 57.39 +52.80 = 110.19.
The early energy is 57.39/110.19 = 52.08%
A horse in the same race who was 5 lengths behind at 2nd call ran 56.30 fps and if it finished within a length, it ran 52.40 fps late.
56.30+5240 = 110.87
56.30/110.87 = 50.78%
If you are interested, Bris has a collection of free newsletters for AllWays software thar talk a lot about handicapping topics.
This one covers the energy expenditure.
http://www.brisnet.com/cgi-bin/stati...brs&header=off