Mandated Smart Metering is Good for the Customer, according to Energy Insights Study.FRAMINGHAM, Mass. -- Increased usage in smart metering A Smart meter generally refers to a type of advanced meter (usually an electrical meter) that identifies consumption in more detail than a conventional meter; and optionally, but generally, communicates that information via some network back to the local utility for monitoring and technology will create new opportunities for energy retailers to provide customers with innovative pricing, analysts from research and advisory services advisory services
advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal firm Energy Insights predicted in a recent study published last month. "Although the business case for installing smart metering is getting easier, analysts expect that laws and regulations mandating smart metering will be the primary driver of smart metering installations by utilities," said Jill Feblowitz, Program Director of Energy Wholesale Strategies with Energy Insights. "Once smart metering is mandated, energy retailers and customers will be able to reap the benefits of time-based pricing Time-based pricing refers to a type offer or contract by a provider of a service or supplier of a commodity, in which the price depends on the time when the service is provided or the commodity is delivered. ."
Feblowitz is the author of Metering Gets Smart - Managing Smart Metering Data to Serve the Customer (Doc #EI10058). The study defines smart metering, describes the context for initiatives, and reviews software applications, along with the application development and deployment infrastructure required to derive the full benefits of smart metering installations. Legislators and regulators are taking a prominent role in laying the groundwork for smart metering installations, based on interest in making more dynamic pricing options available for customers. Feblowitz asserts that the most innovative pricing will allow the customer to automatically program devices to respond to a price signal sent via the smart metering device or other channels.
Although early efforts concentrated on hardware, installation, and ongoing support costs of smart metering, utilities are now recognizing the importance of meter data management and software applications for smart metering installations. For example, Ontario, Canada is considering a province-wide installation of smart meters. Based on estimates of the Ontario Energy Board The Ontario Energy Board (OEB) is a Crown corporation responsible for regulating natural gas and electricity utilities in the province of Ontario, Canada. This includes setting rates and approving the Independent Electricity Market Operator (IMO)'s budget and fees. , data management costs in the beginning of the smart metering program could amount to as much as $11 million dollars a year. "The energy retailers and meter data providers should not approach a project of this magnitude hoping to build systems as they go. The landscape is littered lit·ter
a. A disorderly accumulation of objects; a pile.
b. Carelessly discarded refuse, such as wastepaper: the litter in the streets after a parade.
2. with examples of companies that have implemented homegrown home·grown
1. Raised or grown at home.
2. Originating in or characteristic of a locality: "Rock is homegrown music in the United States, evolved from blues and country and Tin Pan Alley" patchwork systems to handle smart metering," said Feblowitz.
About Energy Insights, an IDC Company
Energy Insights, an IDC Company, provides energy industry executives with research-based advisory and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.)
service - work done by one person or group that benefits another; "budget separately for goods and services" that enable energy companies to maximize the business value of their technology investments, minimize technology risk through accurate planning, benchmark themselves against industry peers, adopt industry best practices for business/technology alignment, make more informed technology decisions and drive technology-enabled business innovation.
Energy Insights provides full coverage of the energy industry value chain from upstream From the consumer to the provider. See downstream.
(networking) upstream - Fewer network hops away from a backbone or hub. For example, a small ISP that connects to the Internet through a larger ISP that has their own connection to the backbone is downstream from the larger to retail activities. Staffed by senior analysts with significant technology experience in the energy industry, Energy Insights provides a portfolio of offerings that are relevant to both IT and business needs.
Founded in January 2005, Energy Insights is headquartered in Framingham, Mass. Visit http://www.energy-insights.com for more information.
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