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Big Data requires a Grand Vision

18th Feb `14, 02:42 PM in Resources

Electric and gas utilities are facing challenges as their business model evolves from serving ratepayers to engaging consumers….

BDMS
Guest Contributor
 

Electric and gas utilities are facing challenges as their business model evolves from serving ratepayers to engaging consumers. In an era of revenue decoupling, utility shareholder returns are no longer maximized by simply selling energy to the ratepayer. Instead, utilities must adhere to regulatory requirements and politically-expedient mandates for demand-side management, renewable integration, and home automation. Utilities distribution has become increasing complex.

Demand side management (DSM) requires utility customers to become aware of and engaged in energy management. Energy savings are mandated by regulators with both rewards and penalties associated with utility performance. With consumers in control of energy use, utilities must become increasingly opportunistic when preparing tomorrow’s energy efficiency programs. Utilities have moved from promoting ‘hard measures’ that included CFLs, LEDs, and Energy STAR appliances to encouraging ‘soft measures’ that include updates to building codes/standards, voluntary usage reductions, and social norming strategies.

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