Prosumers and electric vehicles to accelerate technology changes and data surge for electricity sector

TechnologyOne (ASX:TNE) one of Australiasia’s largest enterprise software providers, has foreshadowed an imminent technology transformation for the electricity sector.

The electricity sector in New Zealand has recently identified several accelerating trends causing a wave of changes to the industry.

The Annual New Zealand Electricity Survey, 2017 which surveyed more than 250 players in the electricity industry shows that almost 60% of respondents say current assets and management systems need major change to meet future needs over the coming years.

Further, 44% of electricity players see distribution companies as most affected by disruptive technology in the coming decade.

The sector anticipates a redesign of business and delivery models including investments in new infrastructure such as ‘intelligent assets’ in anticipation of changing user demand.

TechnologyOne’s General Manager for Strategic Asset Management, Mr Jeff Roorda says the most significant demand changes are expected to arise from the increased uptake (and increasingly lower ownership costs) of electric cars and the rise of prosumers who generate their own electricity.

“In the coming years, the electricity sector will redesign its business and delivery models in response to the rise of prosumers and their uptake of electric vehicles,” Mr Roorda said.

“Both prosumers and electric vehicles change the levers of demand predictability for the sector,” he said.

“As the sector adjusts with investments in infrastructure and upgrades to asset registers and systems, the kind of data that electricity network providers need to manage will change very quickly.

“The ability of the electricity sector to adopt new, smart, integrated software that will provide data on electricity usage in real time will be critical to traversing these changes.

“We will see the electricity market move away from reliance on fragmented point systems to manage asset data which are slow to react to what they think a customer is doing; towards analysing real time trend data from multiple sources – that’s the game changer.

“TechnologyOne is already seeing the emerging need for integrated ERP software solutions from the electricity sector to manage new assets and handle fluid increased data loads.

“TechnologyOne provides powerful, purpose-built enterprise software as a service to leading energy network companies to enable them to respond to this changing, connected world and ensure they are making the right decisions about infrastructure investments for the future,” Mr Roorda said.

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About TechnologyOne

TechnologyOne (ASX:TNE) is Australia's largest enterprise software company and one of Australia's top 200 ASX-listed companies, with offices across six countries. We create solutions that transform business and make life simple for our customers. We do this by providing powerful, deeply integrated enterprise software that is incredibly easy to use. Over 1,000 leading corporations, government departments and statutory authorities are powered by our software.

We participate in only eight key markets: government, local government, financial services, education, health and community services, asset intensive, project intensive and corporate. For these markets we develop, market, sell, implement, support and run our preconfigured solutions, which reduce time, cost and risk for our customers.

For 28 years, we have been providing our customers enterprise software that evolves and adapts to new and emerging technologies, allowing them to focus on their business and not technology. Today, our software is available on the TechnologyOne Cloud and across smart mobile devices.

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