LONDON, July 16, 2012 /PRNewswire/ -- Most energy companies have not yet had the vision to monetise their smart meter investments, finds a recent Frost & Sullivan study. They focus more on meeting deployment timelines and do not have a strategic approach to leverage the revenue potential from smart meters in households. Straightforward solutions involving Information & Communication Technology (ICT) – introducing a user friendly web portal or exploiting the popularity of smart phones – are easy ways for energy companies to engage customers and optimise smart meter deployments.
Frost & Sullivan will hold a web conference entitled "Monetising Smart Meter Investments" on Thursday, 26 July 2012, at 14.00 BST. Senior Industry Analyst, Yiru Zhong, will discuss energy companies' pain points on smart meter deployments as well as ICT solutions that can accelerate the Return on Investment (ROI) from smart meters.
From a retailing perspective, a smart meter allows the energy company to be more innovative in tariffing and enables customer interaction opportunities. However, innovative tariff strategies require more specialised ICT solutions such as future proof billing systems. Wider adoption of ICT that adds intelligence to the electricity grid will also open up new prospects for energy companies to maximise operational efficiency and leverage existing network assets.
"Innovative billing and rating systems are essential to accelerate ROI on smart meters by immediately allowing energy companies to introduce a variety of tariff options such as Time-of-Use (ToU), Critical Peak Pricing (CPP) or simply to provide more personalised tariffs, pricing and services," says Ms Zong. "Another critical function ICT can enable is a holistic view on using smart meter data for revenue and cost benefits. We believe that energy companies in Europe should focus less on flexible tariffs and more on targeted customer offers."
During the web conference Ms Zhong will identify ICT investment priorities in monetising smart meter investments and present ICT competitive dynamics. The briefing will benefit ICT and Energy solution providers.
If you would like to participate in this complimentary briefing, please email Joanna Lewandowska, Corporate Communications, at Joanna.firstname.lastname@example.org with your full contact details. Upon receipt of the above information, a registration link will be e-mailed to you. You may also register to receive a recorded version of the briefing at anytime by submitting the aforementioned contact details.
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SOURCE Frost & Sullivan