While power distribution companies struggle with the pressures to invest in new infrastructure to support renewable energy resources, they must also extend the life of existing assets. Only by having a clear view of all assets can an organization effectively maintain the uptime of power distribution networks.
To balance these pressures, many power distribution companies are investing in smart grid technologies to improve overall network reliability and energy efficiency. Ventyx understands the need to balance everyday operations with the drive towards innovation.
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Power Distribution Challenges
Ventyx can help power distribution companies address the following changes:
- Managing widely dispersed assets - Organizations must manage existing geographically-dispersed assets, often in remote locations, as well as complex infrastructure projects for new, dispersed sources of energy.
- Maintaining aged infrastructure, while improving customer satisfaction - Organizations face the dual threat of managing an aging asset infrastructure while dealing with the rapid growth in operating requirements for new, renewable energy sources.
- Adhering to continually changing safety and environmental regulations - The distribution of electricity, gas, and other critical resources is a challenging business driven by complex regulatory requirements.
- Taking advantage of smart technologies - Distribution companies are making significant investments into smart grid projects – however this new frontier of energy delivery comes at a high cost and companies need to balance technology complexity with a focus on ensuring that business results are delivered in a sustainable way.
- Forecasting retail load - Accurately forecasting short-term load is a very complex problem that requires distribution companies to arrive at accurate forecasts while accounting for several highly volatile factors.