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Data Management
explaining: “We will add computing intelligence to electricity significantly higher, data is a company’s most valuable
networks by introducing a smart grid and the use of smart business resource, whether it be metering, price or any other
meters in homes. This will allow demand and supply to be data source.
intelligently managed and pave the way for large-scale use of The market outlook over the coming months may appear
renewable energy resources.” highly uncertain, but this uncertainty is also highly
Thetermsmartgridrepresentsavisionforadigitalupgrade manageable. Companies need to ensure they have the
ofdistributionandlongdistancetransmissiongridstooptimise necessary business tools at their disposal to navigate through
current grid operations and open up new markets for a recession and these tools must include an optimised energy
renewable energy production. And the use of robust two-way data management system.
communications, advanced sensors, and distributed
computing technology will improve the efficiency, reliability Conclusions
and safety of power delivery and use. When the UK economy was last in recession the market was
Themarketisonthecuspofanenergytechnologyrevolution less able to adapt to the economic consequences faced. But
which,iffullyrealised,willseethecentralisedgridinfrastructure there can be few, if any, excuses today. The main differential
of the past half-century replaced by a decentralised generation betweentheearly1990sandtodayistechnology.Forexample,
market managed by a smart grid at the macro level any by the development of smart metering programmes means that
smartmetersatthemicro(orfinalconsumptionpoint)level. demand patterns can be better managed, thus increasing
While this technology revolution should be seen for what it energy efficiencies and reducing costs.
will provide, i.e. significant opportunities, it also introduces a Recessions tend to be a wake-up call; providing notice that
degree of uncertainty while the new technologies are first change is required. Governments have already accepted that
introduced and then accepted. And as with the other changesarerequiredtoensurethenexteconomiccycleismore
‘uncertainty’ categories discussed it needs to be managed. sustainable, and the need for sustainability has to include
energy consumption. This recession is
Managing Uncertainty
... it is important that the new
already changing energy behaviour
Companies can address market
uncertainty either passively or actively,
era of ‘energy responsibility’
with demand falling, but it is important
that the new era of ‘energy
with both responses requiring risk
is not dismissed when the
responsibility’ is not dismissed when the
management. A passive approach will economy gets back on track economy gets back on track. Smart
likely entail a company fixing the price metering technology can help provide
of all, or the majority, of its exposure, while an active this energy responsibility.
approach would see a significantly smaller share of price Economies will always move in cycles, but technology only
fixing and providing more flexibility to manage the moves in one direction – forward. Through advances in
remainder of the exposure on a near real-time basis, thus technology companies have become more efficient and
reducingtheriskofanopportunityloss.Regardlessofwhether profitable, and the business value of technology is never more
an active or passive risk management approach is adopted evident than in a recession.

the viability of these approaches will be influenced by the
data used. Richard Quigley is Managing Director of DataGenic which
During an economic downturn there is a tendency for specialises in time series and reference data management.
businessestocutbackoncosts,withthefirstcutstendingtobe DataGenic is recognised as an international specialist in the
operational, such as staff, as businesses look to streamline delivery of data management solutions having developed
their operations. Another popular cost target are those an unrivalled knowledge of interval, market pricing and
business functions that are perceived as luxuries. However, reference data required by the industry, together with its
businesses must be careful they do not confuse business complex usage in analysis, trading, decision support, risk
luxuries with business necessities. management, portfolio optimisation, operations and sales,
Data management systems may be viewed by some as a and the technology needed to deliver and integrate
business luxury, and during a benign market period this information across the enterprise.
argument might have some validity, but at times of extreme
market uncertainty – such as now – when risks are www.datagenicgroup.com
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