Utility Companies
Utility companies, including the generation & distribution sides, across the United States are responsible for providing the transmission, distribution, and generation services to energy customers in their associated territories. In deregulated areas, utilities have spun-off the energy generation side of their businesses. They now only provide transmission & distribution services to their customers.
Challenges Faced by Utility Companies Today
The world of locked-in utility rates is changing. Utilities are shifting to more real-time power prices, leaving the customer to modify operations based on floating prices that will constantly fluctuate. In addition, utilities are facing carbon emissions caps. They will need to limit the amount of fossil fuel generation they use to meet system requirements.
This essentially means utility companies must be ever-closer to the true demand and energy availability across their region to increase usage of cleaner energy sources and reduce sources with a heavy carbon burden. The adoption of energy efficiency programs and the full utilization of existing energy before spinning up reserve generation is of utmost importance.
Value of Verisae Smart Grid Platform to Utility Companies
Verisae helps utility companies by acting like a generation resource and spinning reserve of energy made available via the use of demand response capabilities across a disperse group of customers. Our customers curtailing power lets the utility limit the amount of peak power generation they call upon and spinning reserve they have on stand-by to meet power spikes, thereby reducing their carbon footprint and lowering the overall cost to their customer rate-base.
Verisae can also help utility companies link their energy efficiency rebates and incentives programs to the specific customer asset, making the programs more tangible and more accurately tracking the investments made and results delivered. Through the collaborative participation of all energy participants, Verisae is positioned in the middle of the energy market; on one side supporting the infrastructure, pricing, and load balancing needs of energy providers and on the other side the energy consumption, pricing, and efficiency needs of customers. We help with the adoption of end-user focused participation in demand response initiatives.
Scenarios of Smart Grid Use by Utility Companies
- Automated demand response services enabled to the asset level
- Rebates & incentives library tied to specific customer assets
- Increased demand response program participation by customers
- Enablement of virtual grid management across multiple customers
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