Innowatts announced that it will be extending its suite of AI-enabled analytics and digital energy applications to European markets, where the company has already been testing its platform across four million smart meters.
The expansion, which will focus initially on the UK, Spain, Scandinavia and other smart-meter enabled regions, aims to equip European energy providers with vital predictive intelligence that facilitates decarbonization, lowers customer costs, and personalizes the end user experience.
Despite the accelerating adoption of smart meters globally, energy companies continue to struggle to realize the full value of these investments. Innowatts’ technology provides utilities and retail energy providers with a single platform for extracting smart meter insights and translating those insights into new sources of customer and business value. By bringing its technology to European energy markets, Innowatts hopes to dramatically increase the ROI of many smart meter deployments across the region.
Innowatts will offer these services through its cloud-based eUtility™ platform, a SaaS (software-as-a-service-solution) that enables energy providers to quickly disaggregate customer-level energy patterns and use that intelligence to design highly personalized bundled offering plans, pricing and product solutions that are matched to individual customer needs. The solution also provides load forecasts and other predictive insights that enable proactive forms of customer engagement such as smart energy alerts, notifications and point solution offerings.
“The rapid expansion of smart meter deployments and IoT technology across Europe has created a trove of new data and insights on customer energy consumption,” commented Boundy, the company’s European general manager.
To date, Innowatts has analyzed more than 21 million smart meters globally, amassing the largest single body of smart meter analytics and machine learning-enabled intelligence on energy consumers. In addition to its customer engagement applications, eUtility™ has been used by energy providers in competitive power markets to lower bulk supply and risk management costs, integrate distributed energy resources into their portfolio, and optimize customer pricing decisions.