The value of Europe's top 20 utilities has halved in the past six years and their credit ratings have been downgraded, despite a recent upward trend.
There is a future - but it will require a massive change in their thinking and business model. The resource efficiency will be gained from managing information flows, analysing data and managing the distribution of increasing amounts of renewable energy. Information, not energy, will be the driver. The utilities – with their advanced engineering capability, experience in energy systems and close historical ties to transmission and distribution system operators and consumers – have an excellent opportunity to become smart infrastructure solution providers.
There are two main public goods that the utilities could provide in a smart way. On the one hand, there should be more flexibility in terms of transmission and electricity generation. In this sense, IT solutions (modernisation as a whole) could aid achieving a relative equilibrium between supply and demand, thereby oering net savings for the end users.
The second is that utilities could manage the energy usage in accordance with "time of use" tariffs, allowing them to successfully manage demand. In other words, utilities could start gathering data, thereby influencing IT companies that are their suppliers.
This data can be used to offer energy efficiency services to end users through the use of plant schedules. There are three factors associated with boosting value that is connected with implementing IT solutions: greater adaptability and agility to unforeseen circumstances, better communication among various companies, and better analysis of information. Utilities should concentrate on the application of IT solutions in order to be more efficient.
Methodia is a leading Business-as-a-Service (BaaS) and Software-as-a-Service (SaaS) provider, offering customised business solutions for efficient energy and utility management. We are focused on developing comprehensive end-to-end utility management software and digital products for energy providers and utilities. We have gained extensive experience in optimising and automating any type of business processes, and providing a wide range of home-grown IT and consulting services for utility industry players.
Energy retailers and utilities can drive customer growth and business profitability by using Methodia’s specialised utility management solutions. Our Switching, Self-Service and Broker portals are designed to help you acquire more clients, improve your customer services and satisfaction levels.
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