MONITORING & METERING
understand how it is changing historical demand profiles and supporting them to offer alternative tariffs and improved hedging decisions. Thanks to the lessons we can learn from states
such as California and Texas, and the Pacific Northwest, the UK and Ireland do not need to begin from a standing start. Innowatts already has the capability to disaggregate data to improve forecasting and create personalised engagement for customers that have heat pumps. However, for maximum impact, multiple seasons’ worth of data will be helpful in establishing seasonal trends to help forecast for this significant system change – therefore, it is advisable to start collecting and analysing interval data right away.
MORE ACCURATE, MORE COMPETITIVE Pricing customers more accurately is one benefit that it makes sense for every energy supplier to take advantage of as soon as possible. Understandably, when high and low variability consumption customers are combined, there is an element of socialisation that ‘hides’ the true profitability of a customer. For many suppliers, this lack of differentiation
means an inability to sort the wheat from the chaff when it comes to profitable and unprofitable customers. Interval data enables suppliers to price each customer based on their actual consumption patterns and create differentiation through more accurate subgroupings. Successful energy suppliers that invest in this capability will retain and
eventually attract more profitable customers, leaving less data-driven suppliers with the unprofitable ones. Finally, for those suppliers that are slow to move, they may begin to see some of their customer relationships disintermediated by new smart-tech entrants, particularly in the electric vehicle charging space. Ohme is a good example of a company that is
using interval data to its advantage, offering to automatically optimise car charging times to take advantage of low and negative electricity prices. Its customers no longer need that relationship
with the energy supplier to gain valuable insights into their electricity consumption. This will likely be a creeping threat that will only become more prolific as other manufacturers, such as for solar PV, offer to do the same. We therefore believe it is time for the UK and
Ireland to unlock the multiple benefits of interval data. Suppliers that are proactive and get themselves in position today stand to create stronger relationships with their customers.
Innowatts
www.innowatts.com Pricing customers
more accurately is one benefit that it makes sense for every energy supplier to take advantage of as soon as possible
www.energymanagementmag.co.uk
ENERGY MANAGEMENT - Autumn 2021
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