We bring to you the 4th edition of the #AIRSeries (Ask, Innovate and Reduce), a step to create an ecosystem of sharing and exchanging thoughts about Energy Efficiency.
We will continue hosting Twitter chats and LinkedIn Q&A series with thought leaders and we would invite them to share their experiences, analysis, and thoughts on segments in which they are the master of.
The Fourth edition of the #AIRSeries had Matt Rennie, EY Oceania Utilities and Regulatory Leader join us for the Twitter chat session on ‘How does utility – consumer relationship of the future look like?’ The chat was held on the 20th of September, 2018 from 1:30 PM IST / 6 PM AEST.
In case you missed it, check it out here!
Between 2005 and 2012, the rapid build in networks was probably the most significant change – due to N-1 #security #standards #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
But globally, without doubt, the rise of solar due to Government subsidy programs caused the biggest upset to #energy markets, changing the manufacturing cost curve forever #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Interesting thoughts. Ill hold on a question on Retailers and Consumers for now, i think the team has that in store for you at some stage.
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
Could you throw some more light on it? Referring to decentralising or consolidation?
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
Decentralisation of the system is the exam question of the next 20 years. Around $700m of series A and B investments have been made in this space since 2017. It is a hot space
— Matt Rennie (@MattRennie_) September 20, 2018
With the penetration of #renewables into the system, and the emergence of a #duckcurve in the system, low cost power may change the cost curve for #hydrogen production. #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
The game changer though will be the #duckcurve, and in particular the availability of low cost power to produce it. The renewable revolution, itself somewhat against the odds if we go back 20 years, will spawn a number of new #technologies
— Matt Rennie (@MattRennie_) September 20, 2018
Indeed. Change brings opportunity and room for #innovation to flourish
— Matt Rennie (@MattRennie_) September 20, 2018
Hydrogen is “made” through a process which separates water into #hydrogen and oxygen. This requires power, and the cost of this power has been the main inhibitor to its mainstream introduction #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
So it’s another example of new technologies being enabled by virtue of the changing supply mix #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
C&I customers have a completely different profile to residential, and very large electricity customers #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Its horses for courses, and #retailers choose where they want to play in the space, and where they want to balance a higher cost model with a higher margin possibility.
— Matt Rennie (@MattRennie_) September 20, 2018
@EY_PowerUtility found C&I customers were 3 times more likely to buy additional services and products from #utilities than other #energy customers #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
They have different #churn profiles and different expectations as to #customer service and appetite for products which enable #efficiency and cost reductions #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Regulatory hurdles though play a huge role in frustrating the markets for new products and services. While some interventions and protections make sense, at the end of the day, balance is required to protect what really matters; #innovation #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
The goal of #retailing is therefore not about being #newage, but about enabling scale and customer experience improvements through #technology #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Amazing, that means the bigger ones are still in the game as long as the pivot! Interesting times ahead!
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
In the future, #energy #retailing will not be about #margin. It will be about #scale, #digital platforms and #partnerships. Conventional generators that do not pivot towards this will disappear #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Just to build on some additional perspective and not very different to the need of hour as mentioned by Matt (For bigger retailers) https://t.co/9ccQKauT3k #AIRSeries #Utilities
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
C&I #energy customers are therefore able to play an active and important role in the feedback loop for #utilities to refine and better deliver #products and #services #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
For C&I customers, electricity is an input to a broader picture of efficiency and profit. Retailers that work hard to enable this will win. In that way, customer engagement is a means to an end @entechventures #AIRSeries
— Matt Rennie (@MattRennie_) September 20, 2018
As the #power #system becomes more decentralised, new digital software products which provide information and enable reductions in customer load will move to the fore #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
C&I customers are extremely reactive to new products and services that help them increase efficiency and improve core services #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Lower churn rates and stable demand profiles provide a degree of payback and insurance when developing and rolling out #products #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
The reality of #renewables is that increased penetration brings new and interesting challenges around how best to deal with the #duckcurve. #Batteries, #hydrogen, #VPPs all need space to enter the #market #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Balanced take. Glad to see someone taking a balanced view, have always believed with a lot of focus on just "batteries" an holistic approach never gets discussed or talked about. There is no single solution to addressing the #duckcurve issue.
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
The principal point during the @SkyBusiness interview was that #innovation works best when it is untethered, and able to respond to #marketforces. Government intervention dulls these signals. #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Markets differ in the amount of Government and regulatory #intervention but overall, we need to aim for less #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
The #Power #Generation market of the future will be 40-50% renewables, augmented by hydro, storage and cost effective coal baseload until the end of useful lives. #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Indeed 😉
— Matt Rennie (@MattRennie_) September 20, 2018
The #distribution #sector of the future will be #DSO driven, peakless through new technologies and moving electrons as a service while using robotics and #AI to increase #efficiency #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
The #retail sector of the future will be 7 million customer plus, digitally enabled platform driven companies, creating seamless operational #partnerships with #customers #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Most #innovative #utility? Network companies which are embracing #enabling #technologies, and #retailers which are building new digital platforms to exploit and create #scale benefits. #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Who wins, who survives and who arbitrages this new model is the exam question for 2020-2030 #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
2025 is not too far away. The end of margin retailing for retailers and the commencement of digital platforms, the slow emergence of peak shaping in distribution and the cross over for renewables and coal
— Matt Rennie (@MattRennie_) September 20, 2018
I am a purple belt in #BJJ and so I wrestle 5-6 times a week. The perfect downtime for me is thinking about entries to #leglocks for #BJJ and my job allows me to roll in open mats with the BJJ community all over the world. Paradise. #AIRseries @entechventures
— Matt Rennie (@MattRennie_) September 20, 2018
Three pieces of advice? Take more time off, invest in friendships and go easy on the carbs. And drink better wine 🍷 #AIRseries @entechventures #sorrythats4
— Matt Rennie (@MattRennie_) September 20, 2018
I liked the 4th one!! pic.twitter.com/ZqEtdIIqIn
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
Indeed. Its been an amazing interaction. Some brilliant points and amazing takeways. There is a lot to learn from all the years of work @MattRennie_ has put in the sector. Hope this interaction inspires the next gen to carry on and innovate for the next set of challenges!
— Umesh Bhutoria | #FEL100 (@UmeshBhutoria) September 20, 2018
