By Ed Abbo, C3 Energy
Data are becoming a valuable asset for utilities, and with that comes a focus on analytics in order to reveal and act on insights from the increasing volumes of data. So far, smart grid data analytics investment in Europe has generally lagged behind North America, but that will change as European utilities are faced with multiple technology drivers, dynamic business models, and the growing necessity to realize measurable returns from smart grid investments. As data analytics become more prevalent, European utilities have the opportunity to make significant advancements in operational efficiency, reliability and safety while unlocking measurable economic value with a successful analytics solution.
Growing European market for data analytics
European utilities spent about €190 million (€0.66 per meter) on smart grid data analytics in 2012 versus about €230 million (€1.31per meter) in North America, or about half as much per meter, according to recent industry research reports. While certain European utilities, such as Enel – which operates an advanced smart grid with 100 000 automated substations and over 40 million smart meters – are more advanced in their plans, most utilities are at the early stages of…