Power Trading is one of the crucial aspects to be taken care of in any kind of manufacturing facility. To purchase power at a cheaper price for energy consumption of more than 1 MW power, it is a task for the conditional monitoring supervisors to predict the actual power consumption for the day.
And when short term power trading is involved, the competition is tougher.
To bid earliest for power without accurate knowledge of how much power would be consumed, these companies need extremely timely and accurate data which is not possible to attain by human monitoring. Before Industry 4.0 was in the picture, this kind of data was being able to analyze after 20–25 days when the electricity bill was generated and then it was calculated as to what is the actual change in electricity consumption.
How long are the facilities in the world going to rely on such inaccurate data? It is time the companies and facilities who are into power trading adopt the new age technologies and jump into the ocean of the Digital Twin world which helps us be ready for the future. APPCPL has partnered with Ecolibrium Energy to provide predictive management solutions to our existing clients to help them with improving enterprise productivity using SmartSense Technology.
For the benefit of the consumers and for their ease, the predictive asset monitoring devices are installed on behalf of the consumers at their plants to keep a track of their energy consumption and to improve enterprise productivity. The consumers use this device and get alerts either by SMS or email in the continuous duration of 15 minutes. For companies who are into short term Day-Ahead 15 minute contract, it helps them to keep a track of the consumption of electricity.
The voltage and current pattern analysis is done easily with the help of charts and reports. The consumer comes to know how much of electricity is consumed in the peak hours in the plant. Considering one has such continuous and accurate data for 30 days, it becomes easy to figure out the trend of power consumption of the company. This data shows what can be the average daily consumption of power. It is very helpful for these companies to analyse the data by the end of the day and bids for power for the next day. Future predictions becomes easy for enterprise productivity.
Indirectly, such a predictive management hardware helps to optimize the bidding cost and improves the opportunity loss cost. Instead of bidding randomly and conservatively, the insights provided by the maintenance monitor helps to show the precise consumption of energy every 15 minutes in real time and they can bid for the next day keeping in mind the previous day’s data.
A predictive energy monitoring device can help to show immense positive results in a very less time and gets the bidding system in optimized in no time which will be helpful for companies to use electricity efficiently. This tremendously helps the company to drastically reduce the fine paid for the extra utilization of energy.
Conditional Monitoring | Industry 4.0 | Digital Twin | Energy Monitoring | SmartSense Technology | Predictive Asset Monitoring Devices | Predictive Management Hardware | Predictive Energy Monitoring Device | Energy Monitoring Device | Energy Monitoring system
Conditional monitoring is an industry 4.0 process that employs the digital twin for Energy Monitoring using predictive asset monitoring devices, predictive management hardware and predictive energy monitoring device. Click here to know more about SmartSense Technology, energy monitoring device and Energy Monitoring systems.
– Kapil Sharma
– Senior Manager/South Region Head
– APPCPL (Arunachal Pradesh Power Corporation Private Limited)[/vc_column_text][/vc_column][/vc_row]