For energy companies, the Smith Institute provides independent assessment and analysis of dynamic systems and networks in response to evolving market demand and supply, technologies and policies. We work closely with our clients to bring their domain knowledge and our modelling expertise together. We investigate large data sets consisting of multiple metrics and with different geographical and temporal resolutions; we develop predictive models and optimisation algorithms.
The UK energy industry faces many challenges: managing capacity constraints in the gas and electricity grids to match demand; reforms to the electricity market to encourage low carbon investment at unprecedented levels; and finding new business models that fully use innovative technologies, to name but a few. These disruptive technologies are pushing utility companies to rethink business models and change their value proposition to customers. In essence, the rise of distributed generation models, smart grid technologies, energy storage, demand response and improved energy efficiency have the potential to dramatically change the energy landscape.
In an increasingly decentralised energy market with a constantly changing energy mix, the focus is now on flexibility rather than rigid capacity. Utilities can use data to better understand customer’s needs and support the development of the right technologies to meet future energy demands.
Utilities are required to transform their current operations to align with this increasingly challenging environment. The Smith Institute supports industry leaders to rapidly integrate innovation into their operations and infrastructure.