Briefing: Reaping the benefits from the smart grid

Abstract

The European Union 20-20-20 regulation, which calls for companies to reduce carbon dioxide emissions by 20% by 2020, is placing pressure on the electric utility industry to curb both its own and its customers’ energy use. A way of achieving this is through the adoption of smart grids and smart meters, which use two-way digital communications to control appliances at consumers’ homes and record consumption in intervals of an hour or less, respectively. This paper outlines the findings of a recent Oracle Utilities study that examined the progress that has been made by energy utilities to implement smart grids and smart meters. It explains how energy utilities can harness the benefits available to them and their customers through these technologies and how best utilities can utilise the vast amount of data intelligence created by smart meters. It concludes with a look at how utilities can reap the full benefits and capabilities delivered by the smart grid and maximise their return on their investment to take full advantage of the opportunities that the technology brings.