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Priority 3: Realize long-term value from smart transformation
Power and utilities companies should consider the long-term capabilities that need to be built to operate in a future with smart meters early. The immense amount of smart meter data and new functionalities will need to be integrated into core business processes, services and product offerings. The new ecosystem of physical assets, communication networks and software must also be securely operated and maintained.
It is crucial for smart meter operations to be established early and scaled up as the program transitions from early pilots to a full-scale rollout. Power and utilities companies should consider strategic decisions, such as who will operate the different components of the smart meter solution and where smart meter operations should reside in the organization. They also need to consider the division of responsibilities and the service level agreements dictating performance expectations and incident response times.
A structured framework to build the skills, knowledge, new end-to-end business processes and technologies needed to execute smart meter operations effectively is essential. This will enable the proactive identification, categorization, prioritization and resolution of issues so that the smart metering ecosystem does not hinder business performance as the organization becomes highly reliant on its data and functionalities.
Enterprise architecture and design governance enable the smart transformation program to provide a common language and devise a pragmatic roadmap toward integration of the smart metering solution and its functionalities into the rest of the organization. Effective enterprise architecture will guide development of the overall solution through its transition and final states concurrently with the mass rollout of smart meters. This involves the creation of a roadmap to unlock business value through the launch of new capabilities, services and product offerings at the right time for the business and customers.
A multitude of smart meter-enabled use cases exist for both the retail and distribution businesses, with the area of focus and investment depending on the strategic objectives of the power and utilities company. An agile, incremental approach to unlock the value of smart metering involves leveraging data platforms, data discovery and data analytics early to explore and understand what the smart meter data reveals about customers and the low voltage network. This approach can help the business refine requirements for its future services and product offerings as well as provide invaluable insights into the solution’s performance that may identify areas for improvement.
Smart transformation is a pivotal foundation for delivering on the potential of the clean energy transition for power and utilities companies, customers and society alike. In this pivotal moment, it is more crucial than ever to “get it right the first time” to avoid costly delays and impediments to the path toward net zero. Power and utilities companies that seize the opportunity can fundamentally transform their organizations, digitize operations and reinvent business models to better serve the customer.