In a press statement, Vector said the Internet of Energy technology will enable the utility “to integrate and develop new energy solutions for customers and the management of multiple technologies on the company’s network.”
The Internet of Energy technology is based on artificial intelligence and was developed by the two companies and tested in Vector’s grid network.
Vector partnered with mPrest in developing the technology under the New Zealand Innovation Mission in which the country’s businesses sought collaborations with Israel innovators.
IoE technology and grid management
Commenting on the functionalities of the internet of energy solution, Simon Mackenzie, chief executive of Vector Limited, said: “You can think of it as a system of systems. The software sits over customer, market, distributed energy resources and network systems managing performance in real time.
“Through self-learning, it is able to assess and predict multiple factors including loads, market dynamics, storage, customer demand and capacity. This greatly enhances the resilience, security and efficiency of customer solutions and our network.”
With the Internet of Energy software, Vector said it targets to help its customers use smart grid technologies to optimise their energy usage, reduce energy costs.
In addition to deploying the internet of energy solution on its network, Vector said it will partner with mPrest in deploying the system in grid networks owned by utility companies in Australia, New Zealand, the island of New Guinea and neighbouring islands in the Pacific Ocean.
The development is part of efforts by Vector to expand its services in the energy sector and improve its existing customer services in the gas segment through the use of innovative digital technologies.
Meanwhile, in the US, the Public Service Electric and Gas Company (PSE&G) is upgrading its gas distribution system in New Jersey’s New Providence administrative area.
The energy provider will replace its existing 3.7 miles of gas distribution pipes with new pipelines as part of efforts to modernise its grid infrastructure.
Joe Forline, vice president of gas operations at PSE&G, said: “These upgrades are part of PSE&G’s three-year program to replace 510 miles of ageing gas infrastructure throughout New Jersey.” [Virginia-based gas utility selects Itron to upgrade distribution system].
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