12 Utility Trends For 2015

2015 Trends Utilities

A New Year always brings its surprise bag of trends and predictions. Based on statistics or just wishes, the electric grid has deeply changed and keeps moving forward. These selected articles and posts will give you the insight you need to better understand the coming year.

Regulations: Coal Cold, Helpless Wind

regulations utilities

 Smart Grids

smart grid tech_2 utilities

Distributed renewables

Distributed renewables are the spearhead of smart grid, shifting the power from utilities to utilities AND its “prosumers” (professional or proactive consumers). Solar panels, geothermal systems or small windmills enable consumers to have a better control over sources of energy, decreasing their dependency on energy providers.

 

A Few Meters Away

Smart meter utilities

Smart meters are the key innovation in the realm of utility consumption. They open the door of big data and allow companies to use the power of analytics, as well as automation. Adjusting demand and supply is not a manual task anymore. Nevertheless the smart meters do not make the world rosier, for the time being.

 

Social Media

Social Media Utilities

Live tweeting and social media posts have made communication a little bit more easier between customers and utilities. The best example is planned and unplanned outages, when utilities inform customers concerned by a black-out or vice-versa, even though people are encouraged to directly contact utilities by phone to signal an outage in their area.

Solar is the new stellar source of energySolar panel installation

 

Spare Power: Bid on it

AdvancedBatteries_Icon energy storage

Nuclear or no nuclear

Hamaoka-Nuclear-Power-Plant-in-Japan

Cyber Attacks

cyber-risk utilities

 

Physical Threats

Metcalf Substation utilities

 

Mutual Aid & Emergency Response

utilities electric9e-1-web

 

Electric Vehicles

Symbol_electric_vehicle_charging_stations

 2015 should be a very dynamic year for utility companies, industry partners and consumers. The sector’s landscape is changing in a faster way. Technologies have opened new opportunities to make the grid smarter, manage assets more efficiently and ensure a better match between demand and supply.

Go further

For a deeper insight on how technologies are changing the utility sector, we invite you to watch 10 Trends and Technologies to Impact IT Over the Next Five Years, a webinar recently published by the consulting firm Gartner.


Mutual AidAsset,Critical Spares Twitter BannerLearn more about our Mutual Aid & Critical Spares Management Solution for Utilities: Veracity Connect, collaborative platformMake electrical equipment procurement easy and efficient. Locate a matching power transformer before a failure occurs!

Stay updated through our social media platforms and our website:

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Asset Redeployment

Some of your assets are sitting in your warehouse, costing you more than what you think (ask your accountant!). Getting rid of it is a solution, redeploying the equipment to another company branch is an alternative to consider first.

The following checklist can help you ensure an effective redeployment:

Asset Redeployment Infographic Utilities

Go further

Collaborative economy and idle asset management: an environmental and financial reward

Investment Recovery: the Missing Link in the Supply Chain

Debunking 5 myths of Purchasing Reconditioned Electrical Assets – Infographic

Determine the best disposition solution for your surplus assets – Infographic


 Learn more about our Critical Spares Management Solution for Utilities: Veracity Connect, collaborative platformMake electrical equipment procurement easy and efficient. Locate a matching power transformer before a failure occurs!

Stay updated through our social media platforms and website:

twitter 48 g 48 linkedin 48 Veracity Surplus Asset Management

Key points from “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages”

Grid Resilience Veracity Asset Management GroupThe report “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages” from the Executive Office of the U.S. President, released in August 2013, is worth being looked at again as the grid and utility companies have to cope with new challenges. Our critical spares management solution Veracity Connect answers some of these challenges met by utilities, as described at the end of the article.

  • The U.S. grid connects 5,800 power plants and delivers electricity to over 144 million customers via 450,000 miles of high voltage lines.

U.S. Grid Infrastructure Veracity Asset Management Group

  • The grid is aging and needs to be modernized: “Seventy percent of the grid’s transmission lines and power transformers are now over 25 years old and the average age of power plants is over 30 years (Campbell 2012).”

U.S. Billion-dollar weather outages Veracity Asset Management Group

  • Due to its aging infrastructure, the grid is exposed to increased risks due to extreme weather conditions (storms, thunderstorms, floods). The U.S. Department of Energy (DOE) reports more than 670 power outages between 2003 and 2012 each affecting more than 50,000 customers. “The U.S. energy sector in general, and the grid in particular, is vulnerable to the increasingly severe weather expected as the climate changes (DOE 2013).”The damages caused by the 144 main weather disasters since 1980 have totaled more than $1 trillion.

Outages US Utility Veracity Asset Management Group

  • Through the “Recovery Act” in 2009, the U.S. Department of Energy has been allocated $4.5 billion to modernize the grid’s resilience toward severe weather.” A more resilient grid is one that is better able to sustain and recover from adverse events like severe weather – a more reliable grid is one with fewer and shorter power interruptions. Methods for improving the resilience and reliability of the grid include both high and low-tech solutions.”
  • The U.S. Government sees an industry-wide program as one of the strategies to increase the grid resilience. “Grid resilience strategies require a partnership across all levels of government and the private sector to promote a regional and cross-jurisdictional approach.”

Availability of Critical Components and Software Systems” is one of the priorities of the U.S. government to improve the grid’s resilience. “utilities can employ asset management strategies that lead to greater availability of critical components”, such as large power transformers. Our cloud-based platform Veracity Connect intends to answer this priority by offering utilities a clear view of available critical equipment through a cloud platform, by putting them in direct contact with other utilities, OEMs, brokers and industry partners.

Some of the benefits are:

  • Mitigate risks by adopting a proactive approach to potential failures.
  • Locate out of stock or hard to replace equipment.
  • Offset capital expenditures by sourcing and comparing available assets. No comparable solution offers to put you in direct contact with other utility members.
  • Network with industry partners and get updated on critical spares market trends.
  • Store key data (e.g. asset specifications, pictures) and get reports on matching assets.
  • Liquid surplus or idle items and maximize their value.
  • Ongoing assistance from Veracity’s Team.

Veracity Connect, collaborative platformFull report “Economic Benefits of Increasing Electric Grid Resilience to Weather Outages”

Go further with:

North American Reliability Corporationhttp://www.nerc.com

The North American Electric Reliability Corporation (NERC) is a not-for-profit international regulatory authority whose mission is to ensure the reliability of the bulk power system in North America. NERC develops and enforces Reliability Standards; annually assesses seasonal and long‐term reliability; monitors the bulk power system through system awareness; and educates, trains, and certifies industry personnel. NERC’s area of responsibility spans the continental United States, Canada, and the northern portion of Baja California, Mexico.

Federal Energy Regulatory Commissionhttp://www.ferc.gov

The Federal Energy Regulatory Commission, or FERC, is an independent agency that regulates the interstate transmission of electricity, natural gas, and oil. FERC also reviews proposals to build liquefied natural gas (LNG) terminals and interstate natural gas pipelines as well as licensing hydropower projects.

The Independent Statistics & Analysis U.S. Energy Information Administration recently released maps of energy facilities and risk areas, especially the “flood vulnerability assessment map” you can find here: http://www.eia.gov/special/floodhazard/).

9 Key Facts from the “Large Power Transformers and the U.S. Electric Grid” Study: http://wp.me/p2EjZw-3S

Why Do Transformers Fail: http://wp.me/p2EjZw-4W

Collaborative Economy & Asset Management: an Environmental and Financial Reward

In the article “Zero Marginal Cost Society: Unlocking Wealth & Cities Too, But Beware the Regulatory Wrinkles”*, April Rinne, Chief Strategy Officer at Collaborative Lab, explains what collaborative economy is, a philosophy shared by Veracity Asset Management Group.

What is “Collaborative Economy”?

Collaborative economy is clearly not just a trend. New business models “promote more efficient utilization of resources”. Reducing purchasing costs in the supply chain is what every business is looking for. Sustainability and environmental risks are becoming a key factor that influences business decisions. But how can we reconcile bottom line and reduced impact on the environment?

Surplus asset management Veracity

Among several opportunities, such as crowd-funded projects and car-sharing, managing idle assets is a rewarding way for companies and public organizations to give a new life to idle equipment and material, and turn them into a new financial stream. Cost reduction and cost avoidance become easily possible, as it costs less to buy a piece of equipment, used, but in good shape and reliable, than to buy a brand new unit for a high price.

Surplus Asset Management

This is why we can link the “collaborative economy” concept with Veracity’s business core: surplus asset management and critical spares management. A key principle of surplus asset management, or “investment recovery”, is the 7 R’s: Reuse, Recondition, Return, Re-sell, Reclaim, Recycle and Remove. The same way we go through our garage and decide to reuse, sell, give or recycle our old DVD players or skates, managing idle assets is relatively similar for a private company or a municipality.

Collaborative economy Veracity asset management group

In the frame of an Investment Recovery program, our Veracity Team can help your company successfully identify, evaluate and choose the right disposition solution for each asset. Let’s say that you have surplus equipment in your warehouse. The holding costs are high and you look for a complementary financial stream. Veracity helps connect the dots, analyze and offer the best options for each idle asset. It can be redeployed to another company branch that needs them, avoiding the cost of buying a new unit. Or it can be sold in an efficient manner to maximize your return, or recycled, avoiding ending up in the landfills.

Think about your idle assets and their hidden value. Contact us at +1-866-694-1252 or info@veracityamg.com, and find out how we can help you unlock their true potential!

Also check our website http://www.veracityamg.com for more information about our investment recovery services!

* http://www.huffingtonpost.com/april-rinne/the-zero-marginal-cost-so_b_5154872.html?utm_hp_ref=business&ir=Business

Determine The Best Disposition Solution For Your Surplus Assets

You identified machines, parts or vehicles that are no longer supporting your company’s operations. What questions should you ask yourself to properly dispose of them?

Disposition Surplus Asset Veracity Asset Management

If you answered yes to one of these questions, you are able to get a maximized value from your obsolete equipment, vehicle or other item.

A “no” to all these questions only offer one solution: sending the item to the landfills. However, it is a decision by default and you should be able to find a better alternative.

A third party specialized in investment recovery / surplus management, such as Veracity Asset Management Group, can help you analyze and identify the best disposition option for your surplus assets. You can delegate the whole disposition process to the third party and only worry about what you will do with the cash back to your bottom line.

Go further in details with the 7 disposition methods for surplus assets:http://wp.me/p2EjZw-3m

Do you need help recover value from idle assets or are you curious about disposition management? Contact us at info@veracityamg.com or 1-866-694-1252.

June Digest – Time to Catch Up!

Summer is here, but it does not mean that the energy sector is on holidays!

Catch up on what happened with our June Digest.June Digest Veracity Asset Management GroupUtilities Standards Forum Veracity Asset Management GroupVeracity Asset Management Group introduced Veracity Connect to the Utilities Standards Forum Members. http://wp.me/p2EjZw-32

 ISO14001 Veracity Asset ManagementThe new standard ISO14001 is to be drafted this year and released in 2015. What will be the impact on companies, their supply chain and their sustainability practices? http://wp.me/p2EjZw-3b

Veracity Asset Disposition ManagementFind out how the 7 ways to dispose of your surplus equipment can help your company maximize the value of these assets: http://wp.me/p2EjZw-3m.

Veracity Connect Critical SparesCritical spares in the utility industry? Get a better idea with this infographic: http://wp.me/p2EjZw-3D

Veracity Newsletter Investment Recovery Critical SparesIn your mail box: Veracity Connect June newsletter. Reconditioning as an investment recovery method, our clients’ feedback and corporate sustainability are on the menu. http://wp.me/p2EjZw-3H.

Subscribe for the next one! Veracity Connect newsletter Sign up

Large Power Transformers and The U.S. Electric Grid Veracity Critical SparesThe “Large Power Transformers and the U.S. Electric Grid” report was released last April. Here are the 9 key facts which explain why large power transformers are critical to the US energy sector. http://wp.me/p2EjZw-3S

Go further with our website: www.veracityamg.com

Join us on social media !

Veracity LinkedIn  Veracity Asset Management Google plus  Veracity Twitter

And contact us at info@veracityamg.com and 1-866-694-1252!

Visit Veracity at Discovery, the Ontario Centres of Excellence 2014 Convention!

Aside

discovery-2013-ontario-centres-of-excellenceVeracity Asset Management Group has been chosen as one of the Northern Ontario delegate companies for the Ontario Centres of Excellence (OCE) Discovery Tradeshow, Canada’s leading innovation-to-commercialization conference. Discovery is a showcase of leading-edge technologies, best practices and research from sectors such as health, manufacturing, digital media and cleantech.

The convention takes place May 12th and May 13th, 2014 at the Metro Toronto Convention Centre, South Building, Level 800, 222 Bremner Boulevard, Toronto, ON M5V 2T6.

Find more information at http://www.ocediscovery.com/where-when#sthash.hLARJoAR.dpuf

Meet the Veracity Team, and see how we can help you maximize the financial return of your surplus assets! Contact us today at +1 866-694-1252 (toll free) or at info@veracityamg.com!

Come and visit our booth!

Also check our website http://www.veracityamg.com/ to learn more about Investment Recovery, and our leading-edge collaborative platform, Veracity Connect!

Veracity Connect, collaborative platform

Visit Veracity at Discovery, the Ontario Centres of Excellence 2014 Convention!

discovery-2013-ontario-centres-of-excellenceVeracity Asset Management Group has been chosen as one of the Northern Ontario delegate companies for the Ontario Centres of Excellence (OCE) Discovery Tradeshow, Canada’s leading innovation-to-commercialization conference. Discovery is a showcase of leading-edge technologies, best practices and research from sectors such as health, manufacturing, digital media and cleantech.

The convention takes place May 12th and May 13th, 2014 at the Metro Toronto Convention Centre, South Building, Level 800, 222 Bremner Boulevard, Toronto, ON M5V 2T6.

Find more information at http://www.ocediscovery.com/where-when#sthash.hLARJoAR.dpuf

Meet the Veracity Team, and see how we can help you maximize the financial return of your surplus assets! Contact us today at +1 866-694-1252 (toll free) or at info@veracityamg.com!

Come and visit our booth!

Also check our website http://www.veracityamg.com/ to learn more about Investment Recovery, and our leading-edge collaborative platform, Veracity Connect!

See You at Enercom 2014!

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Veracity Asset Management Group (Veracity) is proud to continue our support of the Electricity Distributors Association (EDA) and will be attending Enercom 2014 on April 1 and 2, 2014 at The Royal York hotel in downtown Toronto.

Enercom is the number one event in the energy sector in Canada. Researchers, visionaries, practitioners, experts and thought leaders are brought together to explore the current state of the energy field and draw the roadmap of leadership for innovation, business, education and communication, and of course energy.

Find more information at https://edist.eda-on.ca/imis15/CASE/ENERCOM/CASE/ENERCOM/ENERCOM_Home.aspx?hkey=378540dc-c858-4804-a2ad-10ed16ed240c

Come and meet us, and find out how Veracity can help you manage surplus assets, from transformers to switchgears! Contact us today at +1 866-694-1252 (toll free) or at info@veracityamg.com!

Also check our website to learn more about Surplus Asset Management: http://www.veracityamg.com/services/surplus-asset-management