Retail Energy companies face many obstacles when entering new U.S. markets—from differences in regulatory operations and standards to growing their customer base. As one large retail energy company discovered these obstacles exponentially multiply when entering an international market.
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With the emergence of smart meters and uncontrollable new streams of data coming into energy retailers and utilities today, it has become nearly impossible to correctly collect, store, transport and translate quality ‘big data.’ In fact, smart meters have now become mainstream in most markets around the world. Yet, many energy companies are left with an influx of new data and no way to confidently gather, assess and interpret it. Such was the case for a top-five retail energy company. Having worked with Big Data Energy on a previous project, the company returned for support in establishing better methods to optimize and utilize its data more effectively.
Much like for traditional electric utilities and natural gas distribution companies, the landscape for retail energy providers in the United States has dramatically changed in recent years. Along with technology and regulatory shifts, retail providers also face an ever-increasing pressure to innovate their operations and keep pace with the rise in smart meter technology and distributed energy resources.