Excuse the pun, but here in the UK, energy prices are hot news.
According to the Department of Energy and Climate Chance, since 2007, the prices of combined domestic gas and electricity bills have increased by 33 percent in real terms. And, despite wholesale gas prices falling rapidly over the past 12 months, energy providers have been criticised for being slow to pass these savings onto customers. Of course it’s not that simple. Energy providers have to buy their wholesale gas supplies months in advance and have their own costs to cover, meaning it’s not always possible to immediately pass on these savings in full. Both parties are feeling the squeeze – not only in the UK, but all across Europe.
So what can be done to shake up the energy market and improve the situation for all?
“We have only reached the tip of the iceberg when it comes to realizing the positive impact of the Internet on our digital home life, in particular with regard to energy,” explains Serge Subiron, CEO and co-founder at IJENKO. “The Internet of Energy (IoE), as it is known, has the potential to connect the activities of utility providers and consumers in real time, enabling much more dynamic energy provision and consumption.”
IJENKO’s Home Management Solution allows energy suppliers to empower customers to become more efficient in their use of energy, enabling them to save on their energy bills and collectively influence the demand curve.
Imagine being able to use your Smart Phone to check how much energy your heating system is consuming, and what this equates to in monetary terms. Imagine then that you’re able to remotely turn down your thermostat a degree or two from wherever you are. This greater visibility and control, made possible by the IoT, allows for a much more proactive, dynamic and efficient use of energy, not to mention lower bills if that is your end goal.
And these solutions are not the stuff of science fiction. They are possible today thanks to IJENKO’s Home Management Solution and the Intel® IoT Gateway, which extracts data from legacy systems around the home and securely connects them to next-generation intelligent infrastructure.
As well as improving the customer experience, the IJNEKO solution presents utility providers with the opportunity to develop innovative smart services based on the interaction of a number of technologies, rather than one overarching standard. By adding real value to the customer, these services offer long-term stickiness and help utility providers to stay in control of the customer experience.
All in all, it’s a win-win scenario.
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