Case: Asset optimisation for energy industry
Well-done energy asset and cost optimisation set the energy company’s competitive advantage on the next level compared to competitors without asset optimisation.
Lack of visibility to utilise assets optimally
Ensuring heating for a district is no small responsibility, and thus, energy companies typically have various ways of generating heating. Often, it includes their own production and a combination of different assets. Heat accumulators may be used for storing heat to balance the fluctuations in supply and demand.
Managing the different assets is complex and comes with high financial stakes; suboptimal use of the assets results in higher costs for the energy operator.
Energy companies face several challenges with their asset optimisation:
- Lacking accurate supply and demand forecasts, resulting in poor planning and substantial financial risks in the volatile energy markets
- Missing a complete visibility to when is the best time to use own production, when to charge the heat batteries, and when to sell electricity from the market
- Planning production in the volatile energy market
Modelling and optimising the asset portfolio for optimal use
Our Beyond Spot service removes the obstacles of energy asset optimisation. As part of the holistic service we:
- Model the energy assets of the company, taking into consideration the heating demand and electricity prices
- Bring visibility to when is the best time to produce vs. buy energy
- Define what is the optimal way of using the heat accumulator
- Optimise the asset portfolio utilisation, resulting in cost optimisation
Lower costs, increased revenue from trading, and better ROI
Asset optimisation with Beyond Spot brings fast results. Our energy company customers benefit from it in multiple ways:
- Cost savings from buying and producing energy at the minimal cost
- Increased revenue streams, if the energy company is also trading energy flexibilities
- Better ROI for asset investments such as energy production and storage units
Beyond Spot briefly
Beyond Spot is an innovative energy management service for industrial businesses. It helps you uncover energy savings and revenue potential by digitalising, automating and optimising your energy management system. Beyond Spot offers you significant benefits to save money and streamline your business. Watch the brief video about Beyond Spot.