How many kWh does a single-person household require in winter? How does the location of the property - whether it is close to the city center or utilities or located near a river or lake - impacts the use of electricity and gas? Energy companies have mastered monitoring the behavior of their customers. By applying big data analytics and other statistical methods, energy and utilities providers can better distribute their resources and implement flexible billing plans.
World energy consumption will double by 2040. The increase in demand, fuelled mostly by strong economic growth in Asia, will require a prompt response from the energy and utilities industry. Smart grids shall become the standard, as they allow for better allocation of resources, energy storage and dynamic pricing. The heavier use of digital technology will put energy and utilities companies at a higher risk of cyber-attacks, calling for preventive measures and investments in cyber security.
Energy and gas providers are pairing operational technologies and information technologies to update their grids. The resulting smart grids are more efficient, reliable and eco-friendly. They also allow energy and gas companies to be transparent about their measurements and fit the individual needs of consumers more easily. Flexible billing plans plus the integration of customer relationship management system and social media tools are current trends in the energy and utilities sector.