Sensing the future of energy
Michael Jary – Managing Director, APAC and EMEA, Sense Energy retailer business models have faced extraordinary pressures for over a decade. Even before the war in Ukraine prompted a global crisis in energy markets, retailers were facing a very difficult environment. An inexorable rise in energy costs, together with regulatory intervention and increased customer churn, have eroded retail margins and prompted several exits. Attempts at diversification to adjacent businesses such as home services have often failed because the necessary competencies can be starkly different. At the same time, grid edge intelligence and real-time, appliance-level load disaggregation are generating huge interest in the energy sector. Advances in technology and AI mean that this long heralded technology is now a compelling proposition. Testament to its potential, Sense has recently closed the biggest funding round yet in the sector – a $127m Series C. With millions of next generation smart meters due to roll out with Sense capability in North America, decision makers worldwide are now giving the technology serious consideration for future rollouts. As more than three million Sense-enabled meters begin to roll out in the US, this technology is now coming to Australia, where it can integrate with local smart meters. This is particularly timely, with the Australian Energy Market Commission (AEMC) proposing 100% uptake of smart meters by 2030. Intelligent decisions made today will build an efficient and effective energy monitoring and management system for the future. The benefits to consumers and the energy transition are clear. Sense intelligence represents a powerful tool for reducing both their energy bills and their carbon footprint. It also reduces the overall cost of managing, maintaining, and balancing the energy system. However, the potential to transform retailer business models is what’s seizing the imagination of the industry. So how does Sense intelligence work? Intelligent […]