Leveraging Energy Data for the Benefit of Society and Consumers

Industrial data (ID) has the potential to play a key role in finding efficiencies in energy markets and thus lower rates for consumers. The realm of industrial data within the energy sector encompasses a broad ecosystem involving many stakeholders. This policy brief is intended to focus specifically on implications for Investor-Owned Utilities (IOUs), energy service and technology providers including Original Equipment Manufacturers (OEMs), policymakers, and researchers, as well as interactions among them. Within this construct, we find that: • IOUs could better leverage data analytics to utilize capital, natural resources, and public infrastructure more efficiently; • ID could lead to better alignment of incentives between utilities and policy/regulation; • Methods to facilitate market entry for local third-party energy service providers should be explored to benefit the regional economy and to avoid ceding leadership to foreign or out-of-state competition; • More collaboration within the standards space and during the standards deliberation process is warranted (in particular between OEMs and energy providers); • ID and energy stakeholders have an obligation and opportunity to improve regulations for Critical Infrastructure Protection (CIP) with future implications on grid cybersecurity; • Coordination and R&D among utilities, policymakers and research institutions can enhance and accelerate knowledge diffusion and beneficial outcomes for owners, consumers, and the environment.

Date

2020-10

Resource Type

Text

Resource Subtype

Paper

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