69 businesses without electricity in Texas, USA, in July 2024, with some affected for several days. We must respond with innovation and collaborative action to meet the pace of the energy transition to ensure reliable power for all. We must reimagine our entire approach to energy. How can the industry collectively make the most of technology to solve these pressing challenges? Digital technologies, such as the industrial internet of things, artificial intelligence, machine learning, cloud and augmented reality, are already helping power companies better predict and optimise their processes, enhancing efficiency across their entire value chain. In addition, they are further sparking sector-wide collaboration across the power ecosystem. As Kerrick Johnson, chief innovation and communications officer at Vermont Electric Power Company, said at the California UES: “For climate change, it’s the same strategy for dealing with weather, whether it be heat, flame or water…When we have the ability to exchange data with all the utilities, with the university, with our regional transmission organisation, clean validated cybersecure data, that’s critical.” Across the world, 75 per cent of C-suite leaders in the power industry will prioritise investments in industrial intelligence solutions in the next 12 months, according to the AVEVA Industrial Intelligence Index Report 2024. Better data visibility and accessibility helps optimise asset planning, improve load forecasting (which is particularly necessary for renewables), incorporate DERs, batteries and microgrids, and cooperate with regulators. How does this data-led ecosystem works in practice? A good example is the way AVEVA and Microsoft solutions support Dominion Energy in the USA. The company pulls together data from diverse and widely distributed renewable energy sources using CONNECT data services, which runs off Microsoft Azure. Every player across its value chain benefits from real-time industrial intelligence. Producers and schedulers can make data-driven decisions, customers can validate their decarbonisation commitments with regulators, and Dominion gains a new revenue stream. Everybody wins while advancing the energy transition. What is happening elsewhere in the world? Can you share some highlights from the Japan summit? We were very pleased to reconnect with the Japanese industry, where we “ We must respond with innovation and collaborative action to meet the pace of the energy transition” AVEVA encouraged attendees to share their ideas for grid infrastructure development at its Utility Executive Summit in June 2024
RkJQdWJsaXNoZXIy NzQ1NTk=