Energy Risk Management & Risk Mitigation Software: Energy Gas & Water Services

Energy Risk Management & Risk Mitigation Software: Energy Gas and Water Services

Energy Risk Management Software

When taking new approaches to address energy, gas and water management, energy managers operating in companies must highlight not only the potential energy savings and positive impacts on premises but also the associated risks.  Through dedicated tools, Wattics is capable of tracking actions that could be used for risk management accountability to ensure the tracking of actions and write comments about risk factors.

Economic/Financial Risks

The energy manager with the help of Wattics energy analytics software can evaluate and understands the benefits and risks so to bring on the same page energy and financial managers gaining insights into their utility infrastructure. In addition, the platform allows other governance models to maintain those benefits and reduce the risks for their premises.

Increasing Costs of Commodities

Forecasting energy and water consumption growth in buildings are key. It is expected an energy rate will increase and that will drive up the buildings’ existing commodity budget of about 20-40% over the next five years.
Hence, technology for collecting sensor data, business data and environmental data to calculate building energy performance, energy planning and innovation has been a primary focus of Wattics Energy Management. Currently, there’s a significant gap between the energy models used in the design of energy-efficient buildings, and how buildings actually perform after they’re built. This gap is expanded even further by the complexity of the mechanical systems installed in these buildings. Calculating and updating the actual building energy funding per square meter is key.

Aging Infrastructure

Significant investments are continuously needed in buildings to re-vamping an aging infrastructure in all utilities.
To mitigate risks, further investments will be required to replace electrical sub-stations, electrical Paper Insulated Lead Cables (PILC), natural gas lines, cast iron water pipes, and ageing storm and sanitary lines.

Peak Electrical Demand

Despite current energy conservation and efficiency efforts, a forecasted electrical demand growth in buildings indicates that many buildings would be far from achieving country-specific energy saving targets. Some buildings could partially recover capital costs through increased electrical revenue from renewable sources in the coming years. If the revenue doesn’t grow as anticipated, companies will be responsible for paying the balance remaining. Current financial modelling in Europe indicates the letter of credit will be paid off by 2020.
Companies are currently evaluating local electrical co-generation and/or substantive demand-side management initiatives to avoid this risk. Companies should also thrive to avoid or defer growth-related capital costs connected to their own electrical infrastructures including medium and long-term plans to manage electrical demand without exceeding maximum imported capacity.

Seismic Risks

For many companies, the number one seismic risk is their powerhouse that might provide electricity and/or steam and often houses the water pumps that pressurize the domestic water distribution system. Eliminating this seismic risk by replacing the powerhouses with modern energy centres is something to consider.

Integrated Stormwater Management (ISMP)

Another risk mitigation action that requires a significant investment within the Infrastructure Impact Charge (IIC) could be a plan to enable stormwater detention facilities to limit storm flows.

Catastrophic Events (emergency/continuity planning)

Should a catastrophic event occur, providing a diversification of electricity, heat, water, and sanitary sewer services are essential. Risk can be mitigated by introducing a monitoring system such as Wattics in conjunction with a number of redundant (i.e. backup) features, which offer some resilience.
Of concern is a potential gap in company expectations when electricity, natural gas/heat, and water would be available following a catastrophic event. It is to avoid a 100 per cent dependency upon a unique source of electricity, natural gas and water. Considering options that may provide some diversification, while providing other benefits is key to mitigate risks.

Infrastructure Master Planning

In general, risks can be mitigated by planning ahead and installing a platform that is capable of unifying data from a multitude of sensors, monitoring and tracking the evolution of key performance indicators. Energy managers must ensure that all of the existing infrastructure models reflect the new building construction growth as occurring in company’s premises and ensuring greater integration of the various infrastructure master plans, to minimize disruptions and maximize synergies.

energy management software free demo

See Also: ISO 50001 Energy Management Software

See Also: NILM: Non-Intrusive Load Monitoring

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