Smart meter data explosion 'needs board attention'
The future of asset management needs to move to a "board level discussion" to keep on top of the rollout of 50 million smart meters in the UK by 2020.
Speaking at Utility Week's Gas and Power Asset Management conference in Birmingham today Alan Doody, head of asset management at British Gas, said that from the current 229 permutations of smart meters, the number was set to jump to 2,250 by the 2020 government mandate with "different software versions and wireless protocols" along with other technological innovations.
"You've almost a tenfold increase in complexity in the asset management", Doody said.
He added "the amount of data moving around [the utilities] industry is going to explode exponentially and us as asset managers need to make sure we are ready for that or there are going to be some serious financial consequences".
- Fewer than 11,000 customers affected by gas meter mistake Energy UK has stated that fewer than 11,000 customers have been affected by incorrect gas meter readings.
- Understanding of smart meters increases 5 per cent Understanding about smart meters and their benefits has risen by 5 percentage points in the last six months.
- Suppliers overcharge gas customers in meter reading error Energy suppliers have been overcharging gas customers by making basic mistakes reading meters.