SAS: Energy Portfolio Optimization: How Analytical Planning Can Improve Return On Smart Grid Investments
Posted: 20 December 2011 | Source: SAS
The new compositions of source power, meter infrastructure and grid design, and regulatory requirements are pressuring utilities’ planning and execution capabilities. Utilities can convert these challenges into opportunities with the proper application of business analytics, a set of technology solutions that creates “energy portfolio optimization,” or the optimal management of an integrated network of inputs and outputs across an entire business operation’s workflow.
Large utility investments in renewable power generation, the simultaneous importance of correct purchases in spot markets, and the implementation of smart meters and smart grid devices are forcing hard scrutiny of, and high expectations for, returns on investment. And all of that is occurring at a time when national and regional environmental regulations, as well as regulations for more transparent financial transaction reporting, are requiring ever more focus on compliance.
This paper describes best practices shared in a SAS webinar about applying analytics to improve planning in today’s new business environment. These insights relate to four areas of business analytics:
- Advanced forecasting.
- Data management.
- Energy commodity risk aggregation and analysis.
By incorporating new tools and techniques, utilities can effectively address the entrance of new power system assets, modern meters and advanced metering infrastructure (AMI) system implementations, and compliance requirements.