The key smart energy insights from European Utility Week day 2
Thursday, 17 October 2013
Yesterday was the second day of European Utility Week (EUW) – a huge event taking place in Amsterdam covering everything in the smart energy world and gathering the industry’s utility players together.
The Telefónica M2M team has been at the show and we’ve gathered some of the key insight around smart energy data and smart homes from the second day. For all the insight from the first day check out this blog we created.
Smart energy data
How utilities are going to cope with the deluge of data that will be created from a future of smart, connected energy, was something that was on everyone’s mind and discussed heavily at EUW.
SAP’s Miguel Silva argued that utility companies have been dealing with huge data volumes for years but that new data from technologies such as smart meters will create additional demands and challenges.
Ed Abbo, President and Chief Technical Officer of C3 Energy, said smart energy data increasingly resembles the web and the huge volumes of data that internet giants like Google and Twitter have been dealing with for years. There is 35 billion data points created by one million smart meters a year – representing a huge challenge but also opportunity for utilities. Ed argued there is a €200 value for each customer and the utility from effective smart grid analytics – meaning analytics could deliver €1.2 billion across value chain from 5 million smart meters.
This new wave of data is the digital transition that is washing over the utility industry. It offers huge opportunities to innovate but if utilities do not react quickly enough new market entrants will instead disrupt their business.
A smarter life
Smart meters are the foundation of the smart home and the pace of deployment is increasing rapidly around the world.
Spanish utility Endesa told EUW it has rolled out nearly 4 million smart meters across Spain and is already getting 2.5 million remote readings a month.
While the UK’s smart meter roll-out – which has been named the world’s most ambitious smart meter project – is about to kick into full gear. It will install over 53 million smart meters into UK homes by 2020. Telefonica is a significant player in the project and will deliver the communication hub for the large parts of the deployment.
Emilio Martínez de la Fuente, our Head of Smart Metering, was at the show to discuss the project and the opportunities. Emilio said the roll-out means UK citizens will have a smarter home and smart meters are the foundation and first step to a smarter way of life.
But the consensus at EUW was that smart meters themselves will not create a smarter, connected lifestyle without consumer’s embracing the concept. Susan Furnell, Senior Strategy Manager, Connected Home division at Centrica Energy, argued the smart home will only take off if energy kit becomes a consumer lifestyle product. She also predicted that heat control is the Trojan horse application that will show consumers the value of the smart home and catapult the concept into the mainstream.