Discoms prioritising to achieve 100 percent cost recovery

Drones and robust optical fibre networks are crucial in accurate surveys and real-time data communication.

The power industry is undergoing significant transformation driven by technological advancements, evolving regulations, and shifting consumer demands. This transformation involves various stakeholders across the value chain, including customers, generators, transmission systems, distribution companies (discoms), and power market operations. Customers demand reliable electricity at affordable rates. Generators aim for high load factors and low operational costs, while transmission systems focus on ensuring grid reliability, which has improved significantly in recent years. Discoms prioritise achieving 100 percent cost recovery and obtaining regulatory approval for tariffs.  

Data management

Efficient data management is essential across the value chain, encompassing collection, analysis, storage, and communication. Integrated data systems such as SCADA, DCS, and GIS have already been widely implemented to enhance power distribution and reliability. Smart meters and feeder automation are installed to improve demand forecasts and grid management.

Challenges for utilities

Utilities face challenges in network planning due to increasing loads and a limited workforce. Integrated information systems, including Data Lakes and AI solutions, can streamline decision-making and operational efficiency. Offering software as a service (SaaS) models to utilities may facilitate more accessible access to innovative tools.

Advance technologies

Drones and robust optical fibre networks are crucial in accurate surveys and real-time data communication. These technologies support proactive maintenance and efficient data transfer, improving grid management. Integrating solar power into the grid presents opportunities and obstacles, particularly in billing and settlements. Decentralised battery storage and energy-efficient equipment deployment will be integral to future energy management. Virtual power plants and peer-to-peer power transactions offer exciting potential for the industry.

The rise of demand response systems and real-time power trading is shaping the power industry’s future. Renewable energy sources such as solar and wind will become increasingly prevalent, necessitating adaptable solutions to manage these changes effectively. Tariff incentives can promote demand response, balancing the grid during peak and off-peak hours.

Regulatory requirements

The industry must navigate complex regulatory and compliance requirements while ensuring seamless integration with existing infrastructure. Innovative solutions must gain regulatory approval, adding complexity to implementing new systems. Combining power procurement and customer billing functions can improve operational speed and reduce costs. Integrated solutions on customer demand and energy scheduling are necessary for efficient grid management.

Changes in consumer demand, including the adoption of electric vehicles and smart appliances, present challenges for utilities. Incentives such as demand response programs can help manage peak loads and enhance grid stability.

One can pave the way for a more sustainable and efficient energy future by addressing the challenges and embracing opportunities of the power industry. Collaboration between stakeholders, regulators, and innovative technology providers is essential to navigate the changing landscape and achieve long-term success in the power industry.

Spokesperson:  Rajiv Goyal, CEO & Whole-time Director – EKI Power Trading