Utility Week

I N A S S O C I A T I O N W I T H UTILITY WEEK | 1ST - 7TH MARCH 2019 | 25 learning analysis, with results available within seconds." While new technology has made it easier for companies to collect data about everything from asset condi on to consumer behaviour, this informa on is impotent if it is of poor quality or is not used effec vely and securely. The Na onal Infrastructure Commission's (NIC's) report on data, Data for the Public Good, highlighted the importance of data in s mula ng innova on. Philip Graham, NIC chief execu ve, says: "There just needs to be a stronger focus on innova on across the sector, and the quality, consistency and availability of infrastructure data needs to be driven up." "But another important issue is that there's limited understanding of the poten al and benefits of new technologies. We're keen to see that where a new technology improves a service or reduces costs for customers, that informa on is shared." Although the energy industry is rich in data, historically this has largely been siloed and disorganised. But Paul Massara, CEO at Electron, is confident the development of new solu ons such as ar ficial intelligence (AI), will leave an indelible mark on the way the industry organises and uses data. "With the advent of AI, the ability to turn this unstructured data into useful, ac onable informa on is absolutely possible." DATA DEBATE The use of "big data" systems to monitor, analyse and automate produc on, management and demand is not a new idea for the energy industry. Also, the rise of customer-centric products and services for energy monitoring and automa on provides u li es with further data, capabili es and insights. Similarly, there is increasing recogni on in the water sector that more effec ve use of big data tools, such as smart metering, AI and the Internet of Things (IoT), is essen al to transi on to a more sustainable and reliable water network. WHAT ROLE FOR BLOCKCHAIN? Distributed ledger technology, or blockchain, is o en associated with Bitcoin – a peer-to-peer electronic cash system. It is widely accepted as a way for different par es to agree on a common digital history. Reaching consensus on digital history is cri cal because of the ease with which digital assets and transac ons can be forged or duplicated. The technology is on u li es' radar, but it is yet to have major impact on many sectors. Blockchain scored an average of 4.7 out of 10 in the UWL survey. But for blockchain specialist Electron, the technology is a fundamental part of the business and the solu ons it delivers for clients. "Electron is seeking to provide the necessary digital infrastructure to support the transi on to a smart grid and allow hundreds of thousands of distributed devices to play their full role in balancing the grid," explains CEO Paul Massara. "In order to do this, the SO, DNOs and asset owners all need to work together and use one shared version of the truth." Massara acknowledges that there has been a lot of buzz around blockchain, but admits it is not the right solu on for every business. "There has been a certain amount of hype as people have looked for applica ons in the energy sector. In reality many of these are not likely to make economic sense, when confronted with way the energy market works today," he says. "At Electron we are solving a market problem – how to co-ordinate hundreds of thousands of distributed assets – and believe that blockchain is an important enabler for aspects of this." Casey Cole, managing director at Guru Systems, agrees that there are some valid applica ons for blockchain in the energy space but raises doubts over the technology's ability to facilitate enduring change in the industry. "I would consider blockchain or other distributed ledgers as being a fad," he says. "This is mainly because the energy sector has central organisa ons that serve as the source of trust rather than being made up of a bunch of actors who fundamentally don't trust each other, as you find in cryptocurrency for example." There has been a certain amount of hype as people have looked for applications in the energy sector. II

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