By law, all residential energy customers in Spain are required to install a smart meter by 2018. This conversion will produce massive quantities of data that utilities can use to improve energy efficiency.
E.ON Spain, which supplies electricity, gas and energy efficiency services to more than 650,000 customers, has opted for forecasting technology from a business analytics leader, SAS, to predict short-, medium- and long-term energy demand for marketplace decision making.
Forecasting helps E.ON Spain plan ahead
By using SAS® Energy Forecasting, which is compatible with existing infrastructure, E.ON Spain will now be able to produce accurate, scalable and repeatable consumption forecasts for multiple planning horizons – from an hour ahead to 50 years into the future. Covering the entire forecasting process, from data integration and model development to forecasting and reporting, the solution will also help the utility adjust swiftly to changing conditions.
“The information the smart meter data will provide will help us to be more efficient and implement measures that will benefit both today’s customers and future generations,” said Javier Anzola, General Director of Liberalized Markets at E.ON Spain. “Our forecasting models will anticipate customer response and changing attitudes about energy consumption in addition to such influences as economic and weather conditions, helping us to advise our customers and suggest measures to save them money on their power bills.”
In our recent article, Customer Retention In A Competitive Market, Mike Ballard, Senior Director Utilities Strategy at Oracle EMEA, discusses the importance of keeping customers happy through value-added services and by helping them save money on their power bills.
One size does not fit all
To improve forecast performance, reduce uncertainties and generate value in the new data-intensive environment utilities are facing, forecasters must be able to decide which models – or combinations of models – are best and most suited to their situation.
“The days of one-size-fits-all models for the utility forecaster are gone,” said Alyssa Farrell, Global Product Marketing Manager of the Energy Practice at SAS. “Traditional energy forecasting solutions cannot manage large volumes of energy usage data from smart meters. Advanced forecasting with an analytics foundation is now a necessity to track and manage a utility’s assets and optimize its energy portfolio.”
As we pointed out in our article, The Smart Step into the Future for Energy Utilities, by empowering utilities and their customers to better understand how and when energy is used through the use of smart technology like advanced forecasting, Europe can master the most cost-effective, low-carbon and secure energy resource available – energy efficiency.