The business of electricity generation, transmission and distribution to provide mains electricity is influenced by many factors, driven by ever changing demand for electric power. The choice of renewables, including solar and kinetic energy such as hydropower and wind, nuclear, or fossil fuels is not just that of the providers but now the consumer too.
Choices are influenced by environmental concerns, reliability, storage limitations, energy security, regulatory policy and subsidies, short and long term political influence, risk, accessibility, cost and of course profit.
After going through privatisation and deregulation the industry is now entering a phase of digital transformation. There are many examples such as at a transmission level, such as the historical centralisation since the invention of the transformer now changes with the 'prosumers' able to generate their own electricity such as homes with solar in many cases being able to sell back to the grid. Furthermore technology in terms of the smart grid is supporting the development of demand response to support the electricity eco-system in capacity management, load balancing and in general optimisation. Whilst consumption usage and behaviour changes through trends associated with electric vehicle charging, IoT, In-Home-Devices and next generation smart meters.
Analytics can be used to support the electricity industry and the consumer across a myriad of functions to support efficiencies, risk reduction, revenue protection and cost savings. For instance, across investment decision making with planning and forecasting and what if scenarios, through optimisation of the current assets with proactive maintenance through to predictive customer insights for better trading, tariff design and churn reduction.
To discuss your business requirements and technology options contact us to find out more on how RDA is supporting the electricity industry with a ready made scalable industry solution together with a total cost of ownership hosted approach.