Earlage is higher in energy than ear corn because the cob is digestible, but it is usually not higher in energy than #2 shell corn and especially not higher than HM corn.

I like a blend of earlage (at least 35% moisture) and dry shell corn as an energy source in the ration - this spreads out some of the starch solubility so it is easier on the rumen and improves performance. Earlage also gives you the advantage of spreading harvest out, and earlage packs better than HM corn, unless the HM corn is processed before packing but that adds cost compared to earlage which is already processed by the chopper.

Earlage will supply some of the roughage needed in the ration (similar to corn silage) but I also recommend maintaining at least a pound of dry grass hay in the ration for best rumen health and therefore best performance.