Utilities Business Review : News

The smart grid idea is being converged, phasor measuring units are utilized to perform wide-area monitoring, protection, automation, and control, and operations and information technologies (OT/IT) are combined.   The development of distributed energy resources (DERs), the adoption of the smart grid idea, and the identification of the electric power system as a significant component of bigger structures have all had a significant influence on the transmission and distribution (T&D) grid, in particular. The latter includes the birth and rising interest in smart cities and the complicated interactions between electric power grids and other critical infrastructures such as water, gas, and telecommunications systems. Investments in important T&D infrastructures and adopting cutting-edge and arising technologies have been inspired by regulatory needs and financial incentives to solve problems and societal concerns about these features. The improvement of grid resilience and the inclusion of renewable power are among the problems; societal considerations contain improving cities' livability, employability, and sustainability. To conquer these obstacles and seize the connected opportunities, the utility and grid of the future are required to find solutions. Grid resiliency has lately drawn much attention because of the economic effects of weather-related outages, particularly by harsh weather disasters like Superstorm Sandy. The average yearly cost of power disturbances brought on by severe weather is estimated to be between USD 18 billion and USD 33 billion. Grid resiliency incorporates labor availability, T&D reliability, grid hardening, aging infrastructures, physical security, and cybersecurity. Furthermore, grid reliability is essential for maintaining efficiency and competitiveness in a digital economy. These determinations are instructive and figure out a gap that has to be filled. However, this comparison should also consider significant elements and fundamental causes such as electricity pricing, which also reflect end consumers' willingness to pay for a particular reliability level. Likewise, recent incidents concerning utility facilities, like the attack on the Metcalf substation by Pacific Gas and Electric, have emphasized the significance of protecting the physical security of the electric system. Similarly, there has been much discussion over how to complement these expenditures with proper cybersecurity activities because of the broad and quickly expanding deployment of intelligent electronic devices to enhance T&D grid visibility and awareness. In addition, renewable energy sources that aren't hydro are expected to increase by 3.2 percent yearly. For instance, until 2040, solar energy is anticipated to expand by 7.5 percent yearly. Hence, it is anticipated that a combination of infrastructure and technology measures will address the need to integrate increasing volumes of variable renewable power. For instance, the Federal Energy Regulatory Commission Order 1000 abolished the monopoly status or right of first refusal for establishing transmission unless required by states on the infrastructure side. It is expected that this will result in more transmission development. The smart grid idea is being converged, phasor measuring units are utilized to perform wide-area monitoring, protection, automation, and control, and operations and information technologies (OT/IT) are combined. Similarly, to improve system resilience and facilitate the integration of distributed generation (DG) and plug-in electric vehicles, this also contains the deployment of advanced metering infrastructures (AMI) and advanced distribution management systems (ADMS), the emergence of smart inverters, and the application of distributed energy storage and microgrids.     ...Read more

According to the latest study, executives in the energy and utilities industries are more likely than executives in other industries to have implemented sustainability-related changes in their operations. Many people accuse the energy & power industries of carbon emissions, but besides other industries, the utility sector is ruling in adopting sustainable practices. Based on the latest study, executives in the energy and utilities industries are more reasonable than executives in other industries to have executed sustainability-related changes in their operations. Similarly, nearly half of the energy & power respondents (47%) have engaged in a net-zero emissions goal, which is more than every other industry in the survey of about 1,000 respondents worldwide. Finding a Way to Equalize the Bottom Line and the Green Line Across the lifecycle of a utility, like a substation, power plant, solar array, wind farm, or gas pipeline, laws, regulations, and submission requirements must be satisfied. These needs must be satisfied while dealing with often conflicting pressures to reduce costs, increase long-term sustainability, and meet consumer demands – all while handling increased system complexity. Based on the survey, increased process complexity is a barrier to meeting sustainability goals for 50% of energy and utility executives. To achieve competing goals, energy and utility companies must find ways to equalize the bottom line and the green line: 1. Use of technology According to the survey, energy and utilities organizations are more technologically advanced than other respondents, with 55 % using Big Data (compared to only 30% in other industries) and 49 % through cloud technology (versus 36 % for all sectors). While digitalizing systems and automating operations effectively streamline practices and monitor energy consumption, it also adds complexity and decreases security. Each new network component, like a smart meter or an asset sensor, introduces a new entrance point for potential cyber security risks. 2. Prosumers As more individuals and corporations establish solar panels or wind turbines, they evolve as energy producers and consumers ('prosumers'). The utility industry is partaking in a massive global shift because of this. Yet, while prosumers raise the energy from renewable sources obtainable on the grid, they also problematize energy monitoring and management and the billing process. 3. Balancing the two-way energy flow Energy flows one way in conventional power grids – from the power plant to the users. Nevertheless, owing to the growing number of prosumers, there is now a bidirectional energy flow. Furthermore, the growing number of businesses and households engrossing and producing renewable energy creates numerous entrances and exits on the grid, requiring careful monitoring to maintain the bidirectional flow of power.   ...Read more

Identifying and quantifying carbon dioxide emissions aids in the detection of excessive energy consumption and other inefficiencies. Lowering GHG emissions usually goes hand in hand with improving a company's process efficiency and cost-effectiveness.  If a company wants to become more sustainable, it should first understand its present situation and begin tracking its carbon emissions. Measuring carbon emissions is a difficult task. Many companies that do not have carbon measurement and reduction programs have become the exception rather than the rule. Apple, Facebook, and even oil companies report on their CO2 emissions. An overview is not just because these CEOs are environmentally conscious. Less CO2 = less costs Identifying and quantifying CO2 emissions aids in the detection of excessive energy consumption and other inefficiencies. Lowering GHG emissions usually goes hand in hand with improving a company's process efficiency and cost-effectiveness. Having Access to the Carbon Market In addition to internal cost reductions, many businesses compiled to pay a fee for each tonne of CO2 emitted. Hence, the overview is referred to as the carbon emission trading system. Worldwide, 57 carbon pricing systems have already been enforced, 28 in the form of an Emission Trading System (ETS) and 29 in the form of carbon taxes. An ETS converts a maximum number of tonnes of CO2 into allowances, which companies can buy and sell based on their emissions.  A carbon tax is a fixed price one must pay per unit of carbon emission. Companies must measure their emissions under both carbon pricing systems. Many people believe that these systems are THE solution to bringing about real change. On a broader scale, more carbon pricing initiatives are emerging, prices for GHG emissions are rising, and the private sector is implementing its internal carbon pricing systems. As a result, monitoring and reducing carbon emissions is becoming a legal requirement and a business opportunity to stay ahead of competitors. However, this is only available if a company measures its carbon emissions, which is the first step in surviving the sustainable market shift. Transparency is Important Another compelling reason to begin measuring and reducing a company's carbon footprint is to improve its brand image. Customers are concerned about who they do business with, whether businesses or individuals. As evidenced by the streets, polls, and business circles, there is a growing awareness of the importance of sustainability. According to the most recent Euromonitor International sustainability survey, 54 percent of global consumers believe that ethical purchase decisions make a difference. As a result, clients are looking for ways to decrease their individual and collective carbon footprints, reduce waste, purchase green products, and obtain services from environmentally friendly businesses. Transparency about emissions has become so commonplace that even the most polluting industries now reveal their footprint. Major airlines such as Easyjet and Delta have announced comprehensive plans to measure, decrease, and offset their respective carbon footprints to become the most sustainable carriers.     ...Read more