Utilities are collecting unprecedented amounts of information from millions of smart meters installed in recent years, but the capacity to collect data seems largely to have overwhelmed companies and regulators. Processes designed for a world run on paper billing and planned excess capacity are of diminishing effectiveness in one defined by interactive usage and distributed generation.
This opened door for data scientists and data startups to compete with some of the established business service providers themselves rushing to better understand, analyze and use the insights raw data can provide. Most of the vendors advice and analytics for power bills the old fashioned way – door-to-door – and is taking the insight it has into customer priorities and matching that to generator priorities as market rules and operating realities shift.
power tariffs enable customers to save money by limiting use during certain peak energy use “events,” the kind of program that has been in place around the country for years, but adoption has been limited in part because “the conversation about tariffs at commissions and in utilities is very divorced from the reality on the ground, which is focused
The installation of smart meters is set to accelerate and provide ever more detailed information to a wide variety of firms and customers in energy and beyond, and companies will be providing the next level of analysis and engagement based on that data to help companies and regulators move forward with segmenting, prioritizing and putting into action their plans and objectives based on data-driven insights.
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