Transitioning to a sustainable future
The utilities industry is facing unprecedented disruption as the world navigates its way to a sustainable future. Each sub-sector, be it water, electricity or gas is facing the trilemma of keeping services reliable and secure, keeping services affordable and reinventing traditional business models to cope with the emergence and take-up of sustainable alternatives.
Water utilities have redesigned urban estates to allow for more natural waterways, improved treatment and reuse of wastewater and improved management of water catchment areas. Their ability to monitor, manage and minimise wastage of this precious resource is paramount.
Electricity utilities are redesigning and rebuilding traditional electricity networks that distribute large generation sources in a single direction across high and low voltage networks to consumers and businesses. Now these same consumers and business are generating power themselves and wanting to store it or send it back across the same network and monetise it.
Gas networks are also investigating sustainable alternatives to natural gas. The use of renewable electricity to create hydrogen in ‘power to gas’ facilities is seen as a clean way to provide hydrogen fuel for heavy machinery into the future.
Whilst the need for sustainable, reliable and affordable service is common to all, so too is the digital disruption being caused in response. All utilities are now faced with a huge fleet of smart devices, all generating data that is being collected 7x24x365 and presented in control centres around the world. The volume is mind boggling. The human ability to keep abreast of the alarms and alerts being generated is being outpaced. The need to digitally transform these nerve centres to maintain the reliability and integrity of these networks is here and now.
Only through a solid foundation of complete and accurate data, which is no longer managed by humans, but by robotic process automation, machine learning and artificial intelligence, will these organisations be able to keep pace with the growing number of smart end points on their networks.
Successfully navigating this environment requires an experienced and trusted partner. At COSOL, we’re experts at unlocking asset potential. Whether it be the opportunities in your existing asset management systems, your underutilised and undervalued data or the digital representation of your physical assets, we thrive on complex asset management challenges.
How will you address the challenges and opportunities in your business?
Talk to our specialists about partnering with COSOL to reduce risk, improve efficiencies and lower operational costs in your organisation. Find out more about how we can assist with Advisory Services, Enterprise Asset Management, Enterprise Data Management Services and Managed Services.