Yes. Under normal circumstances it does. If ENERCALC is open, it will intermittently check for a new PCC, so it is aware of changes to your license, including a new renewal date. But if you know your subscription is current and the system is indicating something different, read on.
If the system cannot automatically update your PCC for you (security limitations, air-gapped system, etc), then you will eventually see a screen like the one below requesting a new PCC:
Your new PCC is typically delivered to your email address on file when your subscription renews.
If you do not have your new PCC, you can click the "Request PCC" button.
Once you have your new PCC, you can copy it and paste it into the field labeled ENTER PRODUCT CONTROL CODE - "PCC":
Click the button labeled "VALIDATE Product Control Code":
If the PCC is valid, you will see an "ACTIVATE" button next. Click "ACTIVATE":
The next screen should indicate that the program is ready to activate your license, and it presents the option for Indefinite Activation or Automatic Activation and Deactivation. For more information on those two options: https://media.enercalc.com/sel_help_20/index.html?activation.htm
Once you click on the button for the desired activation type, you will see an "Activation in Process" message:
Under normal conditions, this will lead to the "Software is ACTIVATED" message:
Simply click the "CONTINUE TO APP" button to begin using the software: