The initiative from Japanese consultant Abeam Consulting and energy solution provider iGrid Solutions and US-based analytics provider Innowatts combines iGrid’s R.E.A.L. New Energy distributed power management platform and Innowatts’ smart grid energy analytics software with Abeam Consulting undertaking the integration.
The intent is to enable retailers to increase their business profitability and reduce costs through the use of smart meters and new services, which are envisaged for development in the study.
ABeam Consulting reports that the business environment for electricity retailers in Japan is changing dramatically due to the need to introduce renewable energy in order to achieve carbon neutrality by 2050 as well as the rising cost of procuring electricity in response to soaring fossil fuel prices globally.
Thus, strengthening business profitability has become a top priority, including the more precise management of profitability by customer, review of rate menus to improve profit margins and development of value-added services, these also serve as a differentiator from competitors.
In this context, smart meter data and the customer insights it can provide are key.
Validation testing will be conducted with the cooperation of several new electric power companies and is expected to reduce the procurement risk in addition to substantiating the benefits.
After the usefulness and feasibility tests, including compliance with the Personal Data Protection Law and other laws and regulations are confirmed for each company’s business, the intention is to officially release the system in October 2022 as a SaaS smart meter data integration and analysis platform for retail electric power companies in Japan.
IGrid’s R.E.A.L. New Energy Platform utilises AI, IoT, cloud and digital technologies for the management of distributed resources.
Innowatts’ secure SaaS platform leverages AI and machine learning capabilities to help energy providers unlock grid edge opportunities and enhance customer value.
Innowatts is no stranger to the Japanese market and previously entered an agreement for the commercialisation and deployment of its grid edge management solutions with Shell Energy Japan.