Utilities turn to big data to improve pricing models
Smart meters and time-of-use rates could dampen power market volatility and improve hedging
The US’s power utilities are succeeding in one area where Silicon Valley’s finest have failed: convincing homeowners to connect everyday objects – light bulbs, thermostats and refrigerators – to the internet.
The Edison Foundation estimates that by the end of 2017, electricity companies will have installed 76 million smart meters in the US, covering nearly 60% of households. By contrast, Google is said to have sold fewer than 10 million of its Nest smart thermostats.
Smart meters allow
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